Charles A. Bruder and David T. Harmon, Members of the law firm Norris McLaughlin & Marcus, P.A., and Co-Chairs of the firm’s Executive Compensation and Employee Benefits Group, will present the webinar “Utilizing Settlement and Severance Packages” in conjunction with Lorman Education Services on Tuesday, March 21, from 1-2:30pm.
Since employers, large and small, are dealing with more frequent changes in their employee populations than ever before, this webinar will help them understand key issues to address in a settlement or severance agreement to avoid litigation and that will benefit both the employer and the departing employee. … Read More
I was recently interviewed by Fundfire, a financial services industry on-line publication, regarding J.P. Morgan obtaining a temporary restraining order as it pursues an arbitration case against seven advisors who left to launch an independent shop with LPL Financial. This is yet another case involving the protections of the industry’s agreement called the Protocol for Broker Recruiting.
On October 27, seven private bank advisors left and registered with LPL, launching Gulf Point Advisors, which focuses on working with family offices.… Read More
The article,”Amazon Sues New Target Executive” caught my eye in today’s The Wall Street Journal. Amazon, the executive’s former employer, is concerned he will leak trade secrets to his new employer, Target. Watch my video blog below to learn more about the case and my thoughts on the matter. If you have any questions, please feel free to contact me at firstname.lastname@example.org.… Read More
With news of Morgan Stanley’s plans to make significant cuts in its debt and currencies ranks across all offices (Wall Street Journal, December 1, 2015, page C1), the importance of having your “employment disaster recovery bag” at the ready is highlighted. Included in that “bag” should be your offer letter; any confidentiality, non-solicit, non-compete, work for hire and/or garden leave agreement; employee handbook; and any document or plan relating to your equity, deferred compensation, bonus, pension, or any other aspect of your employment.… Read More
I was recently interviewed by Fundfire, a financial services industry on-line publication, regarding a Morgan Stanley financial advisor team that was sued by their former employer, J.P. Morgan, after they jumped ship to Morgan Stanley earlier this year. J.P. Morgan has alleged breach of contract, misappropriation of trade secrets and unfair competition among others.
Last year, J.P. Morgan became a signatory to the Protocol for Broker Recruiting, an industry agreement that typically supersedes the non compete and non solicit clauses contained in contracts advisors sign with firms, allowing them to retain basic client information and contact clients should they switch firms.… Read More
The Omnicom-Publicis deal blew up due to an apparent “culture clash” and an inability to work out the details towards integration. According to the Wall Street Journal (May 12, 2014, page B4), since “Omnicom pays better than [Publicis]” there was disappointment among Publicis staffers as many anticipated increased compensation coming their way.
While that may be the case, integration of two behemoths can often lead to reductions in force, making the disappointment over pay rates the least of concerns.… Read More
Newsworthy items in executive compensation arena include stories on Cheniere Energy and Barclays:
Cheniere Energy Inc. pays its CEO $142 million in 2013, apparently one of the largest pay packages in the U.S., despite lack of profit or attaining its exporting goals. Consider that Cheniere “has lost money every year since its founding in 1996.”
Barclays’ top U.S. executive departs due to “acrimony” over pay.
As the official days of summer wind down and Labor Day weekend approaches, many other transitions will be under way. We are anticipating the reopening of schools, resumption of college and graduate classes, more traffic and new traffic patterns, and businesses focusing on the approaching fourth quarter.
Next week, we must re-adjust the pace of our lives back to the pre-summer norm.… Read More