Earning a fat salary is not a sin

Bond king: A file picture of Bill Gross speaking at an international investment conference in Chicago. He left the world’s largest bond fund Pacific Investment Management Co last year and followed up with a suit for US300mil from his old firm and former colleagues. – Bloomberg

WHEN Bill Gross left Pimco, the world’s largest bond fund last year, he followed up with a suit against his old firm and former colleagues, seeking some US$300mil.

The bond king claimed this amount was his portion of a US$1.3bil pool of compensation, which was to be shared among an elite group of 60 managing directors of Pimco for their performance in 2013.