Jack Marshall and John Wylie will leave Nicholas-Applegate at the end of 1998 to start ``some type of private money management operation, probably a hedge fund,'' a spokesman for Nicholas-Applegate said.
Mr. Marshall, CIO of midcap to large-cap equities, developed and heads the midcap portfolio management team. Mr. Wylie is director of investment services group. Both are partners in the firm and will continue to have an economic involvement with the firm for several years. Both will maintain their current responsibilities and will work with the firm during the year to develop a succession plan