Darien banker Jennings Bad Arrest Leads to Millions of lost Compensation

By Teri Buhl.

Today the Wall Street Journal has a story showing how Darien banker William Bryan Jennings got totally screwed over by Morgan Stanley after he was arrested for a hate crime the state of Connecticut later dropped. One of my readers had commented last month in some of the storiesI’d written about Jennings that the investment bank he spent two decades with wasn’t going to pay him millions in deferred compensation. I tried to follow-up on that news but it looks like theWSJ beat me to it.

You see most bank executives don’t get their full bonuses when they are awarded each year. The bank usually sets up a 2-3 year deferred stock payout to keep great performers in their job. Jennings was one of those bankers who has now learned bad pr for him equals Morgan Stanley is going to take the opportunity to not fork over millions in pay he previously earned. TheJournal says Jennings wasn’t fired until October – a few weeks before all charges were dropped. Morgan Stanley claims they can fire him because his actions hurt the firm even though his job performance isn’t why he’d be fired. Sounds like a totally BS excuses to me. What’s also troubling is the CT assistant States attorney, Weiss, waited until October to drop the charges when he knew in May the cabbie had lied about having the weapon all along — in May Jennings was still employed by Morgan Stanley.

For more:


What Next?

Recent Articles