Evergreen Asset Management Corp.'s president and co-chief executive officer, Nola Maddox Falcone, is to retire next month after 25 years with the company.

Evergreen Asset Management of Purchase, N.Y., manages about $15 billion of First Union Corp.'s $58 billion-asset Evergreen Fund group. Charlotte, N.C.-based First Union bought Evergreen's predecessor company, Lieber & Co., in 1994.

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