Mohamed El-Erian resigned from $2 trillion PIMCO investment fund in May 2013 to spend more time with his daughter.
Headlines such as “CEO quits job because of daughter” are unheard of but is certainly refreshing.
What started out as a typical argument between father and daughter about her not brushing her teeth ended up being the reason why 56-year-old Mohamed El-Erian shocked the financial world when he resigned as chief executive of a leading global investment management firm in May 2013.
While arguing about brushing her teeth, Mr. El-Erian’s 10-year-old daughter left the room and came back with a piece of paper wherein she listed 22 milestones that her father failed to show up for. The milestones included her first day at school, first soccer match of the season, a parent-teacher meeting and a Halloween parade.
Mr El-Erian pictured in 2011 helping clean up the coastline as part of PIMCO project.
Prior to resigning, Mr. El-Erian’s grueling scheduled entailed sleeping from 9pm until 1am, then he would wake up to work on his newspaper columns, get to the office by 4.30am and then move from the trading floor to his office to take up management duties at 9am. Since resigning, the investor said he and his wife take turns in waking up their daughter, preparing her breakfast, bringing her to and fro school.
El-Erian said wanting to spend more time with his family is a cliche but he decided that “his need to be a good father was greater than his desire to be a good investor.”
Article written by: Raisa Tan
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