Upheaval continued to plague TCW Group, the LA-based asset manager, after the US Treasury halted one of the group’s high-profile funds and some senior employees loyal to deposed investment chief Jeffrey Gundlach defected, reports the WSJ. TCW, which has about $110bn in assets, on Friday announced it was dismissing its well-known chief investment officer, Gundlach. To fill his role managing more than $60bn in assets, TCW agreed to acquire rival Metropolitan West Asset Management.

This entry was posted by Gwen Robinson on Thursday, December 10th, 2009 at 4:42 and is filed under Capital markets, Hedge funds. Tagged with Metropolitan West. Edit this entry.