Barrenjoey poaching claims in court: ‘Raid left no business division untouched’
Investment firm Jarden is suing two former executives and accusing rival firm Barrenjoey of orchestrating a mass poaching raid. The court case involves allegations of destroyed evidence and the unauthorized cloning of work devices.
Why it matters
This case highlights the intense competition in the investment banking sector and the legal complexities surrounding employee mobility and data protection.
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Former Jarden executives Silvana Schenone and Dan Reynolds. Photo / NZME
Jarden has told a court of “destroyed evidence” as a rival investment firm poached 14 staff.
Australian firm Barrenjoey attacked to set up a direct competitor to its freshly decimated rival, Jarden counsel Brian Dickey KC said today.
Jarden is suing former executive Dan Reynolds and co-head of investment banking Silvana Schenone in the Employment Court.
Jarden is demanding they hand over information cloned from work devices amid claims of a poaching plot.
Dickey said Barrenjoey “tried to raid a wide spectrum of staff” across all business divisions.
Dickey said 14 Jarden staff left and another 17 were targeted.
“The raid left no business division untouched.”
Dickey said targets included business group leaders, entry-level staff and even “algorithm specialists who work from home in Christchurch”.
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