Reported 26 days ago
A former JPMorgan Chase private client adviser, Gary Carruthers, has agreed to temporarily stop soliciting clients after moving to Wells Fargo amid an arbitration following a lawsuit by JPMorgan. The lawsuit alleges Carruthers violated a contract prohibiting him from soliciting clients for a year post-resignation, after reportedly convincing over two dozen clients with $24.3 million in assets to switch banks. Judge Arthur Engoron approved the consent agreement, requiring Carruthers to return client-related documents while the case is pending resolution.
Source: YAHOO