New Star and Evershed settle out of court

Patrick Evershed, former fund manager at New Star, has reached a settlement with the asset manager over claims he was bullied.

Evershed had been seeking more than £1m in compensation from his former employer, claiming he was bullied by the firm’s founder John Duffield.

The parties said in a statement: “New Star Asset Management holdings (now owned by Henderson Group plc) and Patrick Evershed have reached an agreement which resolves the employment tribunal proceedings without admission of liability.

“Both parties are satisifed with the terms of the agreement and have agreed to keep them confidential. No further comment will be made.”