Legendary investor Bill Gross, founder and chief investment officer of asset manager Pacific Investment Management Co., better known as Pimco, is leaving the firm to join Janus Capital Group, Janus announced on Friday.

Gross, who gained fame as perhaps the industry’s preeminent bond manager during his long reign as skipper of the world’s largest mutual fund, the Pimco Total Return Fund, will officially begin at Janus next Monday and will assume his duties as manager of the Janus Global Unconstrained Bond Fund on October 6.

Gross leaves Newport Beach, Calif.-based Pimco after a rough stretch going back nearly one-and-a-half years that includes investor withdrawals from the Total Return Fund, the nasty fallout regarding his leadership style resulting from the sudden resignation earlier this year of Pimco CEO Mohamed El-Erian, and fresh news this week about a Securities and Exchange Commission probe into how Pimco assigned asset prices at the Pimco Total Return ETF, a wildly successful product that mimics the flagship Total Return mutual fund.

Janus said that Gross will work from a new Janus office to be created in Newport Beach, and that he’ll be responsible for building out the firm’s efforts in global macro fixed-income strategies.

In a pointed statement from Pimco, the firm expressed its gratitude for Gross’ contributions but noted that “over the course of this year it became increasingly clear that the firm’s leadership and Bill have fundamental differences about how to take Pimco forward.”

Pimco said Douglas Hodge and Jay Jacobs will retain their positions as CEO and president, respectively, and that the company has been developing a succession plan for some time to ensure an orderly transition in its portfolio management team.