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Richard Pease sues Henderson in £2.7m contract row

Richard Pease sues Henderson in £2.7m contract row

Richard Pease is suing his former employer Henderson Global Investors over a £2.7 million (€3.43 million) contract dispute, according to the Sunday Times.

The Citywire A-rated fund manager claims Henderson breached the terms of its contract with him as it ‘failed and refused’ to pay him the £2.7 million between 2012 and 2014, according to the High Court claim seen by the paper.

The court papers reveal Pease - who is being represented by law firm Spring Ferguson - was entitled to the half the management fees paid by investors on the three funds he managed, which is said to have amounted to almost £14 million (€17.7 million) between 2009 and 2015.

Pease, who joined Henderson following its acquisition of New Star, quit the firm in October 2014 set up his investment boutique Crux Asset Management.

As part of the arrangement he was allowed to take his European Special Situations fund, which had £1.2 billion (€1.5 billion) in assets under management at the time, with him to Crux.

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