A lawyer representing a former Morgan Stanley diversity officer who is suing the bank over racial discrimination said on Wednesday the bank cut her client's budget for promoting diversity and financial education by 71% from the time she started in wealth management to 2019.
FILE PHOTO: The headquarters of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton
Marilyn Booker, who filed a lawsuit against the bank on Tuesday after she was let go in December, said on CNBC that she believes the bank did improve diversity during the 17 years she worked in diversity, human resources policy and recruiting. In 2011, the firm asked Booker to lead the urban markets group, a job she held until the bank eliminated her position on Dec. 9.
Morgan Stanley did not provide a comment on the 71 percent figure, but it has refuted Booker’s allegations and said that she was let go along with 1,500 other employees last December.
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