Garda Accuses Rival Schonfeld of Poaching Star Portfolio Manager

Garda Capital Partners sued Schonfeld Strategic Advisors, alleging its rival hedge fund schemed to recruit a top fixed-income portfolio manager in violation of his non-competition agreement.

Schonfeld “induced” Nicolas Monaghan to improperly quit his position as “one of Garda’s most important portfolio managers,” according to the suit filed Friday in New York state court. Wayzata, Minnesota-based Garda said Monaghan had generated more than $250 million of profits since joining the firm in 2019.

The suit is the latest legal battle to erupt as Wall Street firms compete for talent. Just last week, Jane Street Group, two of its ...