Morgan Stanley: ex-employees seek contract release to allege racial discrimination

Morgan Stanley: ex-employees seek contract release to allege racial discrimination

At least six former employees are asking Morgan Stanley to release them from confidentiality agreements so they can tell their stories of alleged racial discrimination at the investment bank.

The request, which was released in an open letter on Tuesday, follows a lawsuit last month by the bank's former diversity chief, Marilyn Booker, claiming systemic racial discrimination against women of color.

Lawyer Jeanne Christensen, who also represents Booker, said the employees requesting release from non-disclosure agreements have "important“ stories to tell and "feel a heightened sense of obligation to come forward in the wake of the recently intensified BLM movement, but need to do so without fear of retribution“.

In the letter, which was posted on Medium and addressed to Morgan Stanley's board of directors, Christensen offered the example of a former executive director she claimed was let go in December after two decades at the firm as part of a reduction in force (RIF) initiative.

"Just months earlier, this employee had created a diversity initiative intended to address systemic race discrimination at Morgan Stanley - and had advocated this initiative to numerous executives. Rather than doing anything, this black employee was terminated,“ the letter claims.

Morgan Stanley declined to comment.

Booker's racial-bias accusations against the