Morgan Stanley fired former US Democratic lawmaker Harold Ford, Jr. He previously worked as a managing director at the Wall Street bank. The termination was said to be because of inappropriate conduct related to an undisclosed event.
A report was released not long after wherein a former business contact complained that Ford harassed, intimidated and physically assaulted her. Also according to the woman, the alleged assault was done on a night several years ago.
Morgan Stanley spokesperson Michele Davis confirmed Ford’s termination on Thursday. She then explained that he was fired due to “conduct inconsistent with our values and in violation of our policies.”
Ford released a statement in multiple media platforms, threatening to sue Morgan Stanley and the woman who made the allegations against him.
He then denied the allegation. He said that he never “never forcibly grabbed any woman or man in my life.” Here is his statement:
I support and have tremendous respect for the brave women now speaking out in this important national dialogue. False claims like this undermine the real silence breakers. I will now be bringing legal action against the reporter who has made these false claims about me as well as Morgan Stanley for improper termination.”
“Morgan Stanley has still not told Harold directly of his termination, and unlike every other circumstance I’ve been in, the company has refused to provide me with a reason,” said Ford’s lawyer, John Singer. “This all demonstrates how this was a matter of convenience during a hyper-sensitive time and not based on real facts.”
Morgan Stanley Launches Robo-Advisory
The bank has launched Access Investing, a robo-advisory product. It was launched in hopes of piquing interest in younger clients. Clients of whom it can eventually offer more services.
the firm’s investment advisors uses the same software skeleton as the product. The system will take a customer through the process of creating a portfolio, defining goals, and assessing risks.
“We want to attract clients earlier in the process, and then graduate them to the appropriate services as their needs become more complex,” said Morgan Stanley Wealth Management chief digital officer Naureen Hassan.
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