Even as his brainchild is locked in a separate legal battle with a former employee here in the U.S., Robert Day
is setting aside one of his hats across the Atlantic. Reuters
' Julien Ponthus reports
that the TCW
founder resigned on December 31 from the board of Societe Generale
, the French bank that owns TCW.
A SocGen spokeswoman told Reuters that Day left "for personal reasons."
Day, the former mentor of estranged ex-TCW investment guru Jeff Gundlach
, faces a class action lawsuit in the U.S. and a French regulatory investigation over his sale of Societe Generale stock before the January 2008 revelation of $6.69 billion in losses thanks to a junior trader.
Meanwhile, Gundlach and his new firm, DoubleLine
, continue to duke it out in court in the wake of Gundlach's ouster and TCW's merger with MetWest
Neil Anderson, Managing Editor
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