Barclays Sued for Payment

Pagoda Partners, a Singapore-based recruiter, is suing the British bank Barclays after allegedly referring a high-level candidate from Merrill Lynch but never receiving its fee.

According to the lawsuit, Pagoda sent Barclays the candidate’s resume in January 2009.

However, attorneys for Barclays say the new employee — who earned $348,000 in his first year — was hired as a direct referral after Pagoda failed to set up a meeting, according to the court filing. The attorneys say there was never any agreement for the engagement of Pagoda’s services, court documents reveal.

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Barclays says it typically pays search firms between 10%-18% of annual compensation for new hires, with a cap of $123,000.

Elaine Rigoli has nearly 15 years of experience managing content and community for various B2B and consumer websites. Elaine has written thousands of business and technology articles and has been quoted in The Wall Street Journal and eWeek, among other publications.

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