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Morgan Stanley terminates financial adviser for stealing client data

Global financial services company Morgan Stanley has terminated a financial adviser in one of its New York branches for stealing partial client data.

Morgan Stanley

The 30-year-old former employee has been identified as Galen Marsh, reports Reuters, citing people familiar with the matter.

According to the company, there is no evidence of any economic loss to any client, and it has been determined that certain account information of approximately 900 clients, including account names and numbers was briefly posted online.

The company removed the information after detecting the exposure and is taking necessary steps to notify all potentially affected clients.

Morgan Stanley is also instituting enhanced security procedures including fraud monitoring on the accounts.

Information that was stolen does not include account passwords or social security numbers.

Working with the appropriate authorities, Morgan Stanley has referred the matter to regulators as well as law enforcement authorities who are conducting separate investigations of the incident.

The company provides investment banking, securities, investment management and wealth management services.


Image: Office of Morgan Stanley on Times Square. Photo: courtesy of Jenix89