PIMCO chief economist and managing director Paul McCulley is set to step down from his role less than a year after rejoining the firm on 28 February 2015.
The departure follows the appointment of Joachim Fels as new global economic adviser earlier this month.
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PIMCO’s Group CIO Daniel Ivascyn said: "Paul returned to PIMCO last May after being recruited by Bill Gross, with whom he had a close friendship and association for more than 20 years."
McCulley said: "I accepted this position, as I said at the time, to work side-by-side with Bill Gross, as economic counselor, doing the three things that I love: think, write and speak macro."
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