trending Market Intelligence /marketintelligence/en/news-insights/trending/KnbuUE0HOm5iZy99IMT3dA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

UK's Man Group to challenge Kuwaiti pension fund's allegations in court

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


UK's Man Group to challenge Kuwaiti pension fund's allegations in court

Kuwait's Public Institution for Social Security said it has filed a $156 million lawsuit with the U.K. Supreme Court against Man Group PLC and its units, Reuters reported.

The U.K.-based asset manager had allegedly carried out "secret contracts" with a former executive of the pension fund between 1996 and 2013, according to the Jan. 9 report.

Man Group said it will challenge the pension fund's allegations, which dates back "over 20 years," in court, the newswire noted.

"Based on the evidence we have seen to date, Man Group will dispute any claim and intends to vigorously and robustly defend any proceedings," the asset manager said.