(Bloomberg) -- Paul McCulley is leaving Pimco less than a year after rejoining the firm, a departure that further diminishes the influence of co-founder Bill Gross at the $1.68 trillion money manager.

McCulley is stepping down from his role as a managing director and the chief economist, a position he said he accepted last year to work side-by-side with Gross. His last day at the Newport Beach, Calif.-based firm will be Feb. 28.

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