SPRINGFIELD – An upstart competitor poached 22 employees from a MassMutual subsidiary last month, then tried to use the defections as leverage, forcing MassMutual to sell it the lucrative business loaning money to companies for “pennies on the dollar.”
The subsidiary, Barings, sued in a North Carolina court, calling the move by competitor Corinthia Global Management “one of the largest so-called team lifts at an alternative asset manager in recent years.”
