JLT and Hyperion settle employee poaching lawsuit
A number of JLT employees who left the firm to join Hyperion will have to serve out their notice periods before taking up their new positions, after JLT initiated a lawsuit against Hyperion.
The development is the result of a settlement between JLT and Hyperion, the terms of which are confidential. The settlement does state that the employees concerned should be bound by their obligations to JLT, which also include respecting their post-termination restrictive covenants.
JLT has seen a number of defections to Hyperion in the last year. These include Mark Wood, global specialty head of JLT’s financial lines group; and Sarah Hughes, Adam Codrington and Nigel Todd, senior brokers, who all left JLT in May 2019. The moves came just months after JLT was bought by US broker Marsh and McLennan for £4.3 billion.