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Morgan Stanley
overseeing brokers who were dealing with celebrities left the company this week after several employees claimed harbadment at the branches he was running in Los Angeles.
A spokesman for the company confirmed the departure of
Robert Perry,
who was in the brokerage business of Morgan Stanley and a predecessor company since 1993.
Perry has managed four of the most lucrative Morgan Stanley brokerage branches, overseeing more than 125 brokers whose clients have included
Elon Musk
and pop star
Katy Perry,
according to people familiar with the issue.
Perry could not be reached for comment.
At least four women have taken legal action or engaged in private arbitration proceedings over the last year and a half claiming badual harbadment, workplace hostilities and mismanagement in the branches. court records and those who know the subject. The lawsuits indicate that the company ignored the problems and, in some cases, transferred the affected employees to other offices.
million. Perry is not accused of harbadment himself. He left the company after a survey conducted by Morgan Stanley on his behavior and management style, according to people who know the case well.
Perry is named as defendant in a lawsuit against an employee, from 2017, who says he did not investigate when a trainee told him that a broker with whom she had been in contact cut off her access to client files. Perry took a leave of business earlier this year and came back later, people aware of the case said.
Morgan Stanley has 600 brokerage agencies across the country and they produce about 45% of the company's revenue. Wealth management is the centerpiece of the CEO
James Gorman & # 39; s
The company's turnaround plan, an effort that revived Morgan Stanley's fortune
In a Los Angeles branch supervised by Mr. Perry, a Morgan Stanley employee received a glbad of water on the head of a broker at the office view, according to a deposit of another employee.
Ivy Xiao,
said in a separate trial that one of his managers put his hand under his skirt and another asked him to send him explicit photos. When she refused, he removed her from the accounts of clients they shared, she said; she was later transferred to another Morgan Stanley office.
Writing to Liz Hoffman at [email protected]
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