According to WSJ: Criminal charges were dropped against
banker William Bryan Jennings, but Morgan Stanley alleges he violated the
firm's code of conduct. In the eyes of
the law, William Bryan Jennings's stabbing with a taxicab driver on the way
home from a Morgan Stanley MS -0.24% holiday party last December never
happened. Despite a whirlwind of tabloid
headlines unleashed after the 46-year-old investment banker pulled a pen knife
out of his briefcase over a disputed fare, prosecutors dropped assault and
hate-crime charges against him.
Mr. Jennings was a free man. But Morgan Stanley has declined
to forgive and forget. He was fired in
early October, two weeks before the criminal case died. A brief letter to him
didn't go into much detail, but Morgan Stanley officials have said Mr. Jennings
breached the securities firm's 22-page code of conduct, according to people
familiar with the matter.
Now the banker, who goes by "Bryan," and his
former bosses are in a tug of war over millions of dollars in deferred
compensation that Mr. Jennings accumulated during his 19-year career at the New
York company. Officials at the firm
believe it owes him nothing, citing "clawback" provisions that allow
the company to withhold or seize pay from employees who hurt Morgan Stanley….
Wait, wait…there’s more good stuff at http://online.wsj.com/article/SB10001424127887324677204578187640986898784.html
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