July 17, 2003 — John Hancock Funds has fired Yeager Wood & Marshall Inc. as the portfolio manager of the $560 million J Hancock US Global Leaders Growth/A (USGLX).
Before dismissing Yeager Wood, Hancock was notified that two principals of the New York-based firm — George Fraise, one of the fund’s managers, and vice president Gordon Marchand — “had resigned to pursue other opportunities,” the fund company said in a statement.
A Hancock spokeswoman declined to elaborate on the statement. George Yeager, the president of Yeager Wood and the fund’s other manager, could not be reached for comment.