Mindy Diamond Quoted
by Andrew M Harris
Two JPMorgan Chase & Co. units sued six former executives who defected to rival Morgan Stanley, seeking a court order blocking them from enticing clients and co-workers to follow.
Mindy Diamond, the principal of Chester, New Jersey-based recruiter Diamond Consultants LLC, said the protocol has been “a game-changer” for the industry. It allows brokers to change firms “with impunity,” free from court fights and the threat of monetary damages as long as they abide by its terms.
The protocol contains “common sense stuff,” she said. It bars brokers from taking original documents when they leave and says those who don’t follow the rules may still be sued, she said.
