Asset Manager Sues Ex-Partner Over Mutual Fund Data Deal

Law360, London (January 10, 2020, 4:22 PM GMT) -- A former executive at Investec Asset Management sued a software company he worked with to market his system for managing mutual fund data, saying he is owed hundreds of thousands of pounds after his business partner terminated their deal.

London-based Consulting AM Ltd. claims in its High Court suit that its director, Peter Ainsworth, hired software designers Atlas Computer Systems to build his mutual fund database system while he worked for the Investec subsidiary.

Ainsworth contacted Atlas shortly before leaving Investec in 2008, and suggested “that the system which had been built to his specifications whilst he was at Investec Asset Management could be commercialised as...

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