Key facts
- Citadel is seeking court orders for Marshall Wace executives Anthony Clarke and Alan Hofmeyr to provide communications regarding Dan Shatz's recruitment.
- Citadel alleges Shatz violated his noncompete agreement by joining Marshall Wace as global head of credit.
- Marshall Wace has been accused of producing limited communications related to Shatz's hiring.
- Citadel claims Clarke and Hofmeyr were heavily involved in recruiting Shatz and met with him during his noncompete period.
Citadel is escalating its legal battle with rival hedge fund Marshall Wace by seeking court intervention to compel two of Marshall Wace's senior executives to turn over communications related to the recruitment of former Citadel portfolio manager Dan Shatz. Citadel alleges that Shatz violated his noncompete agreement when he joined Marshall Wace in late 2024 as its global head of credit.
In a new filing, Citadel's attorneys stated that Marshall Wace has provided only limited communications concerning Shatz's recruitment since a court ordered the firm to comply with a Citadel subpoena on June 8. Citadel is now requesting that the court order Marshall Wace to share communications from partner Anthony Clarke and Alpha Plus fund co-portfolio manager Alan Hofmeyr, both based in the UK. Citadel claims these executives were heavily involved in recruiting Shatz and met with him in London during his noncompete period, though the evidence cited is redacted.
The legal conflict stems from an arbitration between Shatz and Citadel, where Shatz claims he is owed a significant sum due to raising internal concerns about potential securities violations. Citadel's involvement of Marshall Wace began with its allegation that Shatz breached his noncompete agreement. Marshall Wace initially sought to quash Citadel's subpoena for internal communications, but a judge ruled in favor of Citadel in early June, leading to the current push for more evidence from Marshall Wace executives.