Goldman sues seven former executives for C.Suisse move

jueves 18 de febrero de 2010 07:01 CET
 

Feb 18 (Reuters) - Goldman Sachs Group Inc (GS.N: Cotización) sued seven of its former private wealth management division executives for abruptly leaving the company to join rival Credit Suisse CSGN.VX early this month, court documents show.

Three investment professionals at the vice president level, two associates and two managers left Goldman Sachs on Feb. 5 to join Credit Suisse, which had induced the team with tens of millions of dollars for the defection, Goldman said in the court filing.

The defendants, who worked at Goldman's Atlanta office, immediately began soliciting Goldman's clients and employees in violation of the non-solicitation agreement agreed to by them, the documents show.

Neither Goldman Sachs nor Credit Suisse was immediately available for comment outside regular U.S. business hours.

One of the defendants, David Greene, had informed Goldman's Atlanta office head David Fox that Credit Suisse had agreed to pay him $11 million to join the firm, the documents show.

The other six defendants listed in the complaint are Craig Savage, Andrew Thompson, Sharran Srivatsaa, John Pitt, Stephanie Dennard and Kim Tyson.

In the complaint, Goldman requested the court restrain the defendants from using or disclosing Goldman's proprietary information and to return any company documents that maybe in possession of the defendants.

The case is IN re: Goldman, Sachs & Co. v. Greene et al, U.S. District Court, Northern District of Georgia, No. 1:10-cv-00453. (Reporting by Sakthi Prasad in Bangalore )