As if things weren’t busy enough for JPMorgan Chase this week, on Thursday it filed a lawsuit against executive search firm The IDW Group, alleging breach of contract.
JPMorgan claims that New York-based IDW enticed employees to leave JPMorgan for positions elsewhere, including Citadel Investment Group.
The lawsuit alleges that the recruitment agency solicited Patrik Edsparr, a valued executive who resigned from JPMorgan in March and is currently serving as Citadel’s CEO for Europe and head of global fixed income business.
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The lawsuit also notes that following Edsparr’s departure, JPMorgan soon lost five more employees to Citadel.