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JPMorgan Says Ex-Advisor Is Trying to Poach $250M Book
By
Erik Larson
News October 22, 2024 at 05:01 PM
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What You Need To Know
- Gary Carruthers has already persuaded over 24 former clients to transfer their business to Wells Fargo, according to a lawsuit.
- JPMorgan argues that Wells Fargo gave him over $1 million in incentives to breach restrictions and switch jobs.
- The bank says Carruthers, who spent 15 years at JPMorgan, had about 369 clients with roughly $250 million under management at the time of his resignation.
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