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Janus 3Q profit rises 25% as Gross joins the firm

Chief Executive Officer Richard M. Weil has raised the firms profile in the past month, hiring Pimoc co-founder Gross and agreeing to buy VelocityShares to expand in exchange-traded products.

By Mary Childs, Bloomberg | Updated on October 23, 2014

Oct. 23 (Bloomberg) — Janus Capital Group Inc., the firm that hired bond legend Bill Gross last month, said profit rose 25 percent in the third quarter as assets rose from a year earlier, boosting fees for managing money.

Net income at Janus increased 25 percent to $40.9 million, or 22 cents a share, from $32.6 million, or 17 cents a share, a year earlier, the Denver-based firm said today in a statement. Earnings matched the 22-cent average estimate of five analysts surveyed by Bloomberg.

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