Tuesday, 26 May 2015
Last updated 53 min ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…