Vinva Investment Management managing director Morry Waked has rejected allegations he poached clients and staff from his former employer, global investment giant BlackRock.
“It is disappointing that a large firm like BlackRock has resorted to this,” Waked said. “What we will say is that the allegations are completely and utterly rejected and we are confident that the facts will vindicate our position.”
“While we would like to say more, we want to respect the legal process. We look forward to having our say in due course.
“In the meantime we remain focused on delivering investment performance.”
BlackRock is seeking damages in the Australian Federal Court against Waked, Nicholas Burt and Andrew Jackson.
Waked was head of BlackRock’s scientific equity team until February 2010.
Jackson was the scientific equity team’s head of investment research and Burt was a portfolio manager. Both also left BlackRock last year and are now Vinva portfolio managers.
Vinva was established in July 2010 as a boutique Australian equity manager.
BlackRock claims the three solicited its staff and clients.
A BlackRock spokesperson said: “It’s a matter of firm policy we do not comment on legal matters.”
