Star manager sues Henderson in High Court battle over pay

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Former Henderson Global Investors head of European equities Richard Pease is suing the fund group over a disputed £2.7m.

The Sunday Times reports that Pease, who ran the flagship £1.1bn European Special Situations fund for Henderson, has lodged a claim at the High Court that Henderson breached the terms of his contract by withholding payments when he left the company.

Pease left in October 2014 to set up boutique firm Crux Asset Management, taking the European Special Situations fund with him.

He claims Henderson “failed and refused” to pay him £2.7m earned between 2012 and 2014.

Pease was entitled to half the management fees by investors. The Sunday Times cites court papers which show Pease earned almost £14m between 2009 and 2015.

Pease did not reply to a request to comment from the newspaper, while Henderson declined to comment.