With a lucrative offer unprecedented for the firm, Forward Management has swiped its new director of sales from managed account giant Nicholas-Applegate, it was announced last week. Richard Duff, Nicholas-Applegate's former national sales manager, was selected by the San Francisco-based firm to lead efforts to expand its managed account business.
Forward lured Duff away from Nicholas-Applegate with an equity stake in the firm, he said, rendering him the first executive at Forward to have such ownership. "I'm the first person in the firm that owns equity," Duff said. "That was a big part of it for me."