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Report says Guggenheim reached $30M settlement with fund manager

Guggenheim Partners reached a $30 million settlement with Anne Walsh, its fixed-income chief investment officer, to resolve an internal dispute with CEO Mark Walter, who had been accused of favoritism, Financial Times reported.

The company also increased her annual base salary to $5.5 million from $300,000. The settlement, reached in 2017, came amid allegations that Walter promoted and paid his loyalists at the expense of other employees, the publication said, citing "current and former employees with direct knowledge on the matter."

Guggenheim did not reportedly admit to any misconduct in the agreement, thus protecting the company from further claims by Walsh. The news outlet quoted sources as saying that the agreement was meant to resolve the differences between the involved parties, avoid litigation and retain key employees of the company.