| NEW YORK
NEW YORK 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 Wednesday.
"During this period, our employees are working remotely, and we expect to resume full on-premises staffing over the coming days."
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 Beach, Calif.
"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)