Two Fortrend Securities brokers who defected to Shaw and Partners late last year have admitted to using confidential information in a bid to secure clients from their former employer, the Federal Court has heard.
Fortrend has sought damages and an injunction against the pair, which, if granted, would prohibit them from contacting and soliciting ex-clients after it lost 43 over Christmas estimated to be worth $28 million. The two former advisors are defending the claim. The pair had to hand over personal mobiles and laptops and USB drives. On the day of his departure, Mr Wollermann told his former employer that “for you and Joe to claim that large amounts of Fortrend data was on my phone or was lost is just untrue” and all client information was intact on a shared company drive.