Gibson Smith, fundamental fixed-income chief investment officer at Janus Capital Group, will leave the money management firm March 31, said a news release Wednesday.
Mr. Smith, who has been credited with helping build the firm’s fundamental fixed-income business, is leaving to spend more time with his family, the news release said. He is in charge of managing about $35 billion in assets. He did not have supervisory responsibility over William H. Gross, who operates his macro fixed-income strategy out of an office in Newport Beach, Calif. Mr. Smith and his team operate out of Janus’ headquarters in Denver.
Janus said in the release it is promoting two portfolio managers on its fundamental fixed-income team to take over Mr. Smith’s responsibilities.
Darrell Watters will become head of U.S. domestic fundamental fixed income and Chris Diaz will become head of global fundamental fixed income.
Enrique Chang, currently Janus’ equities and asset allocation CIO, will become head of investments on April 1 and will oversee both the fundamental fixed-income and equity investment teams, the release said. It is a new position. Mr. Chang previously had responsible for only the equity team. He will not supervise Mr. Gross.
Mr. Gross reports directly to Janus CEO Richard Weil, with whom he worked at Pacific Investment Management Co.
Mr. Smith joined Janus in 2001 as a fixed-income analyst and was promoted to fixed-income CIO in 2006.
Janus spokesman Erin Passan said the company would have no comment beyond the news release.