Axed Morgan Stanley Diversity Head Alleges 'Systemic' Bias

By Jon Steingart (June 16, 2020, 10:51 PM EDT) -- Morgan Stanley's former chief of diversity sued the investment firm Tuesday in Brooklyn federal court, claiming her efforts to advocate for employees and job candidates of color were stymied and she was eventually fired for complaining about racial inequality.

Marilyn Booker, a black woman who signed on as Morgan Stanley's first diversity officer in 1994, said in her complaint that less than 1% of the firm's financial advisers are people of color, and only a few dozen of its thousands of managing directors are racial minorities. The disparity in its workforce and its senior leadership fits the firm's pattern of keeping...

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