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JPMorgan sues recruiter over Citadel hires


JPMorgan has been seething for months over the loss of a handful of its most senior and talented fixed-income executives to Citadel Investment Group, and now the firm is taking legal action against the recruitment firm it says played a crucial role in those hires.

JPMorgan has filed a lawsuit in Manhattan’s U.S. District Court against recruitment agency IDW Group, alleging that the placement agency violated four separate executive search agreements it had with the bank when it helped Citadel recruit senior JPMorgan executives.

At the heart of the suit is Citadel’s hiring of Patrik Edsparr, JPMorgan’s former global