Publicly owned investment firm Janus Capital Group announced Friday that American financial manager and author William Gross will join the team on Monday. 

Gross, 70, will focus on the firm's efforts in global macro fixed income strategies from its Newport, California, office. Gross is leaving the firm he co-founded, Pacific Investment Management Company LLC, commonly called PIMCO, one of the world's largest global fixed income investment managers with over $1.97 trillion in assets. 

“Bill Gross has an exemplary track record with decades of success and he will offer an exceptional approach to navigating today’s increasingly risky markets with a focus on macro, unconstrained strategies," Richard M. Weil, chief executive officer of Janus Capital Group, said in a statement. 

Gross's surprising exit comes after months of questions about his leadership style and as investors have withdrawn money from PIMCO's funds. A $222 billion fund that Gross personally managed lagged behind many of its peers this year, and investors have withdrawn $68.8 billion from it over 16 consecutive months, according to Morningstar. The Securities and Exchange Commission has also begun investigating whether an exchange traded fund Gross managed inflated its performance data.  

“I look forward to returning my full focus to the fixed income markets and investing, giving up many of the complexities that go with managing a large, complicated organization,” Gross said.