Threadneedle Asia Hedge Fund Sales Chief Sues Ex-Employer

Nov 16 2011 | 9:49am ET

A Threadneedle Asset Management executive has had to resort to the courts over what is normally a formality: resignation.

Jonathan Allen, who heads the firm's hedge fund sales effort in Asia, resigned from Singapore-based Carnelian Capital two-and-a-half years ago. But Carnelian still lists him as a director of the company, which he joined in 2008.

Allen wrote in a court filing that the situation "has caused a severe strain in my relationship with my employer which has the potential of jeopardizing my employment and my future in the asset management industry, due to no fault of my own." Allen said he'll be unable to serve as CEO of Threadneedle's planned Singapore office as long as he is listed as a director at Carnelian.

The former head of Carnelian, Allen also took the opportunity to take several shots at Carnelian, suggesting its "significant" debts may force a liquidation, alleging it did not have "basic operating funds" for its alternative investment operations and that it "consistently failed" to pay him on time.

Carnelian is yet to respond to the lawsuit. A hearing is scheduled in Singapore for Friday.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.