Jefferies Says Better Pay Led Rival's Employees To Leave

Law360, London (October 2, 2020, 5:44 PM BST) -- Jefferies International has slammed allegations that it improperly poached six employees from the investment bank Stifel Nicolaus, telling a London court that its recruitment was "ordinary and lawful" and not a "team move" to undercut a rival. 

In a Sept. 28 filing with the High Court, the investment manager claimed it recruited Stifel Nicolaus' employees through a networking agency on an individual basis, and that defecting employees were not encouraged to recruit their colleagues.

Instead, departing employees were enticed by "sufficiently attractive" offers and career opportunities, Jefferies said. 

"Moreover, each of the individual defendants considered that their prospects for professional development...

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