UPDATE 3-Mohamed El-Erian resigns from Pimco, to stay on at Allianz
January 21, 2014 at 20:56 PM EST
BOSTON, Jan 21 (Reuters) - Mohamed El-Erian, heir apparent to Pimco co-founder Bill Gross, will step down as chief executive and co-chief investment officer, raising questions about the future course of Pacific Investment Management Co, the world's largest bond fund manager.