Morgan Stanley Joins Inter-Brokerage Hiring Pact

Law360, New York (September 14, 2006, 12:00 AM EDT) -- After years of litigation over recruiting tactics, Morgan Stanley has opted to join an agreement among brokerage firms that allows dealers to leave and go elsewhere without having to worry about being sued.

The New York powerhouse is expected to become a formal member later this fall, but has already signaled to the other participants its intention to join the group, according to Morgan Stanley spokesperson, Christy Pollak.

“Management thinks [joining] is the right thing to do,” she said, without elaborating further on what led to...
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