Citi Wins Court Order Against Ex-Banker Who Left for Rival BMO

Citibank NA won a court order requiring a former banker who left for competitor BMO Wealth Management to return its client information and cease using its alleged trade secrets.

Citi sufficiently alleged that John Mitchell likely misappropriated its confidential client information such that it would probably succeed on the merits of its trade secrets lawsuit, the US District Court for the Northern District of California said Tuesday. Citi alleged that after Mitchell left for BMO, he emailed someone whose “multimillion-dollar certificate of deposit” had matured and included BMO’s rates for certificates of deposit.

The Citigroup Inc. unit argued that Mitchell ...