INsider: Gundlach gets in TCW's grill

Bond guru throws a party in a most auspicious location
DEC 11, 2012
By  JKEPHART
Revenge is a dish best served cold — unless you're star fund manager Jeffrey Gundlach. In that case, it's best served in the office building of the firm that fired and then sued you. On Tuesday, the three-year anniversary of Mr. Gundlach's very public dismissal from The TCW Group Inc., the famed investor threw a party for his new firm, DoubleLine Capital LP. The location? Magnolia, a Los Angeles restaurant that just so happens to be in the lobby of TCW's office building, according to a Dealbreaker report. The setting was “deliberately chosen so everybody at TCW would have to walk past them on the way to the garage” and was meant to “send the message: In your face, TCW,” the report noted. In case there was any doubt, the party also included a poster of the TCW executives Mr. Gundlach claims conspired to fire him from the firm, according to a New York Magazine report. The poster was labeled Project G and used in last year's lawsuit over whether Mr. Gundlach stole TCW trade secrets on his way out. The case was settled out of court. A spokesperson for TCW declined to comment on the party. But Mr. Gundlach did show that the get-together wasn't all about thumbing his nose at his former employers. According to the New York Magazine report, he gave his current employees a heartfelt toast, with Cristal in hand, of course. "Three years ago, there were more than 40 of you who jumped off the diving board with me, believing that there would be water in the pool by the time you got there," he said, "I'll never forget that." As the party shows, Mr. Gundlach doesn't forget many things.

Latest News

Edward Jones announces C-suite shakeup with eye toward next chapter
Edward Jones announces C-suite shakeup with eye toward next chapter

The leadership changes coming in June, which also include wealth management and digital unit heads, come as the firm pushes to offer more comprehensive services.

Harvard muni bonds a buy amid battle with Trump White House, Barclays says
Harvard muni bonds a buy amid battle with Trump White House, Barclays says

Strategist sees relatively little risk of the university losing its tax-exempt status, which could pose opportunity for investors with a "longer time horizon."

The great wealth transfer demands a wealth management revolution
The great wealth transfer demands a wealth management revolution

As the next generation of investors take their turn, advisors have to strike a fine balance between embracing new technology and building human connections.

Independent Financial Group taps industry veteran Keefe as new president, COO
Independent Financial Group taps industry veteran Keefe as new president, COO

IFG works with 550 producing advisors and generates about $325 million in annual revenue, said Dave Fischer, the company's co-founder and chief marketing officer.

Net Positive Consortium gains momentum with new members, first strategic partner
Net Positive Consortium gains momentum with new members, first strategic partner

Five new RIAs are joining the industry coalition promoting firm-level impact across workforce, client, community and environmental goals.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.