JPMorgan Chase Bank has sued six former wealth managers who quit en masse to join competitor Morgan Stanley and are allegedly soliciting their $2 billion base of former clients to follow them.
Dozens of JPMorgan clients formerly served by the six defectors have reported receiving calls from them every few days, and the defendants have made disparaging and defamatory statements about JPMorgan’s products and services in an effort to convince clients to move their accounts, the suit claims.
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