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 today. Richard Duff, Nicholas-Applegate’s former national sales manager, was selected by the San Franciso-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. Conversely, he said, the acquisition of Nicholas-Applegate by Allianz late last year made his chances of earning a partnership or equity stake with that company next to impossible.

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