BusinessWeek – A JPMorgan Chase & Co. subsidiary was sued by a former employee who said the bank fired him without cause and breached a spinout agreement that allowed him to leave with the private equity team and platform he managed.
Varun Kumar Bery, former head of JPMorgan’s Private Capital Asia unit, filed the complaint on Monday against his former employer in Hong Kong’s Court of First Instance claiming damages “in the region of US$30.8 million.” JPMorgan spokeswoman Marie Cheung declined to comment on the matter.
