Sunday, 28 August 2016
Last updated 1 day ago
Apr 19 2010 | 4:50am ET
Money manager TCW Group is locked in an ugly legal battle with its former chief investment officer and his new hedge fund, DoubleLine Capital. Now, Jeffrey Gundlach, who TCW has accused of poaching “key personnel,” has added a former lawyer for his old employer to his team.
Earl Lariscy has joined the Los Angeles-based hedge fund as legal counsel. Lariscy was formerly counsel at TCW, where he helped to structure funds and other investment vehicles, DoubleLine said. TCW said he left more than two years ago and so won’t be able to offer an insider’s view of the firm’s lawsuit against Gundlach, which was filed in January. TCW fired Gundlach in December.
Between his stints at DoubleLine and TCW, Lariscy worked at Barclays Capital as a director and as agency general manager of Barclays Bank in Los Angeles.
TCW has accused Gundlach and DoubleLine of breach of contract and fiduciary duty, unfair competition and conspiracy. The firm also claims that, after it fired Gundlach, it found marijuana, drug paraphernalia and a variety of “hardcore” pornography and “sexual devices” in his office. Gundlach has since countersued.
DoubleLine also announced that it has added Henry Chase as its controller. Chase joins from Tatum, and has worked at PricewaterhouseCoopers, U.S. Flywheel Systems and 1928 Jewelry Co.