(Adds details on Pimco's New York offices)
By Jennifer Ablan
NEW YORK Aug 20 The New York offices of Pimco,
the massive asset manager run by Bill Gross, are being fumigated
this week because of a bed bug infestation.
"Our New York office is addressing an isolated issue with
insects, and as a precautionary measure the firm is fumigating
certain areas of the office space," a spokesman said on
"During this period, our employees are working remotely, and
we expect to resume full on-premises staffing over the coming
Pimco's New York offices, located in the Paramount Plaza on
1633 Broadway, are one of a dozen global locations. Pimco, a
unit of Allianz SE, has its headquarters in Newport
"This is an issue that is far from uncommon in New York
City," the spokesman said, regarding New York City's battle
with the epidemic of tiny blood-sucking insects.
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 (Pimco) 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, who is
also known as Wall Street's "bond king."
(Reporting by Jennifer Ablan; Editing by Bernadette Baum, Jan
Paschal and Andre Grenon)