Pimco NYC office tackles 'isolated' insect issue, fumigates

Reuters News
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Posted: Aug 20, 2014 2:39 PM

By Jennifer Ablan

NEW YORK (Reuters) - Pimco's New York office is addressing an "isolated issue with insects" and as a precautionary measure, the company is fumigating certain areas of the office space, a Pimco spokesman said in a statement on Wednesday.

"During this period, our employees are working remotely, and we expect to resume full on-premises staffing over the coming days," he said.

"This is an issue that is far from uncommon in New York City," the spokesman said, regarding New York City's battle with an epidemic of tiny blood-sucking bedbugs.

Two weeks ago, three New York City subway trains had to be fumigated after riders and staff spotted bedbugs in the cars.

Pacific Investment Management Co, which is run by co-founder and Chief Investment Officer Bill Gross, had $1.97 trillion in assets under management as of June 30. The company is home to the world's largest bond fund, which is run by Gross, also known as Wall Street's "bond king."

(Reporting by Jennifer Ablan; Editing by Bernadette Baum and Jan Paschal)