City couple in poaching row

CITY superwoman Nicola Horlick and her banker husband Tim were the centre of a storm last night over separate allegations that…

CITY superwoman Nicola Horlick and her banker husband Tim were the centre of a storm last night over separate allegations that they both attempted to poach staff.

As Mrs Horlick continued to take advice following her suspension by investment bank Morgan Grenfell, details emerged of a legal dispute involving Mr Horlick and his former employers.

Mrs Horlick (35), has been suspended from her £1 million a year job for allegedly attempting to recruit up to 20 colleagues to join her in a move to another company.

Her husband, an investment banker at Salomon Brothers, faces similar allegations from his former employer, Kleinwort Benson.

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The company said yesterday it was determined to continue its legal action against him for alleged breaches of contract.

Mother of five Mrs Horlick heads Morgan Grenfell's £18 billion British pensions fund business.

Morgan Grenfell has launched an internal investigation into alleged potential breaches of her contract.

Speculation is mounting that it aims to complete this in the next few days. Meanwhile, Mrs Horlick could decide to hit back with her own legal action depending on what steps are taken.

The controversy comes four months after Morgan Grenfell sacked Mr Peter Young, its star unit trust manager, over trading irregularities a move which shook the industry.

Mr Horlick quit his post as a director at Kleinwort Benson early last summer to take up a senior post at rival firm Salomon Brothers.

After he left, the bank obtained a restraining order based on claims that he had sought to take confidential business information with him and had tried to persuade colleagues to join him in the move.

The company said yesterday it was seeking a final settlement from Mr Horlick but would not comment on reports that it was seeking up to £100,000 in damages.

"Kleinwoit Benson are still pursuing Tim Horlick in litigation for breaches of contract," said a spokesman. "We intend to pursue the legal process until we reach a satisfactory final settlement."

Both Mr Horlick and his wife were yesterday keeping a low profile, with calls to their four storey house in Kensington, west London, going unanswered.

Mrs Horlick can take some consolation from the tributes paid to her by the Leukaemia Research Fund, which described her as "amazing" and "a marvel".

Her daughter Georgina had to undergo treatment for leukaemia but it is thought the disease is now in remission.

During the last few years Mrs Horlick has been a tireless fundraiser for the charity and had raised about £150,000 for the fund, a spokesman said.

A City observer whose husband studied at Oxford with Mrs Horlick said he had been surprised by her swift climb to the top.

"I don't think he thought of her as a particularly high flyer at Oxford. He was always slightly astounded at where she has got to and how fast," she said.

Mrs Horlick was nicknamed "Superwoman" in City circles for her ability to juggle her job and the demands of a family of five children.