Ben Crump Files Lawsuit Against Morgan Stanley On Behalf of Recruiter Claiming Racial Bias and Retaliation

When you see a lawsuit from civil rights attorney Ben Crump, know he means business. Morgan Stanley is now on the attorney’s radar after racial discrimination and retaliation claims.

Crump’s law firm, Ben Crump Law, PLLC, announced via Twitter that the firm had filed a lawsuit against one of the world’s largest financial service firms, Morgan Stanley & Co., on behalf of a client who claims to have experienced systematic racial discrimination and retaliation.

MEDIA ALERT: @AttorneyCrump, in partnership with Stowell & Friedman, this week filed a lawsuit on behalf of Anthony Fletcher against Morgan Stanley & Co., one of the world’s largest financial service firms, alleging a long-standing pattern of systematic racial discrimination. pic.twitter.com/I8XDtceKQt

— Ben Crump Law, PLLC (@BenCrumpLaw) May 4, 2023

Advisor Hub reports Anthony Fletcher, a former contracted recruit for the firm, was hired to seek out “Black talent,” primarily for management roles, but only hired 16 of over 200 “highly qualified diverse candidates.” The lawsuit claims the owner of My Future Consulting presented Morgan Stanley with candidates of all races, Morgan Stanley limited Fletcher to ‘diverse’ hires and paid less and essentially was hired for lower roles.”

The complaint claims Fletcher earned less than his fellow recruiting colleagues and was denied access to a candidate-tracking system offered to other candidates. The firm also allegedly hired some of his candidates “behind his back,” denying him commissions, and cut his rate below the industry standard—20% compared to 33.33%. He feels this happened “all because of his race.”

Crump says this pattern has to be stopped. “The pattern is clear that Morgan Stanley has deep and wide institutional bias against Black people,” his statement read. “We have assumed compelling evidence that Morgan Stanley is reluctant to hire Black employees; it doesn’t believe people want Black advisors, and it doesn’t think Black people have money to invest.”

Fletcher took things up a notch by highlighting the company’s history of race bias allegations, including a lawsuit settled with Marilyn Booker, its former chief diversity officer. Before Booker, Morgan Stanley never employed a Black woman as a complex manager, and fewer than 1% of their 16,000 brokers were Black as of 2021.

The firm denies these allegations, with a spokesperson saying this is all due to a “fee dispute” with Fletcher. “We categorically reject the allegations of this complaint which is based on a fee dispute with an external recruiter whose contract was terminated,” the spokesperson wrote. “Morgan Stanley remains steadfast in our commitment to build a workforce that is inclusive and diverse.”