James, who inherited his fortune and Raymond James from his father, stepped down as the firm's chairman in 2017 after 40 years with the firm. He was first made a board member at age 20. Founder of one of the largest fund managers of the US, Thomas Bailey launched Janus Capital in 1969 from a one-room office in downtown Denver. He sold his stake of Janus in 2001 for around $1.2 billion. The firm has since merged with UK asset manager Henderson. Earlier this month, after a 40-year career in fund management, 'bond king' Gross retired from the industry.