VETERAN fund manager Patrick Evershed has agreed to settle out of court with New Star over bullying allegations.
New Star, which was bought out by Henderson in 2009, said “both parties are satisfied with the terms of agreement”, but said that the deal would be kept confidential. It has not admitted liability.
Evershed, 70, had claimed to have been unfairly ousted from former employer New Star after reporting his then-boss John Duffield for staff bullying to the firm’s head of HR. The case was first brought in October 2008, and Evershed had been seeking more than £1m in compensation.
Evershed joined New Star in 2002 to manage the Select Opportunities Fund, which had assets under management of £200m at its peak.