Nicholas Applegate to open London office

San Diego-based Nicholas-Applegate Capital Management is to open a London office in the coming months.

The London office will be headed by Nicholas Melhuish, managing director and lead portfolio manager for the firm's Global Select strategy, Global Money Management reports.

A spokesperson says the London base will enable Nicholas-Applegate to enhance its coverage of European companies, and to better serve its European clients.

The firm aims to have up to seven London employees when the new office opens its doors, including portfolio managers, traders, and client service and administration professionals.

It is not yet known if hires will be sourced locally, or transferred from the US.