A white former Morgan Stanley dealer and government sued the wirehouse on Tuesday in New York, alleging he was fired and changed by a less-qualified Black girl.

In a grievance filed at U.S. District Courtroom for the Southern District of New York in Manhattan, Kevin Meyersburg alleged that, whereas with Morgan Stanley as managing director and head of Government Companies, he “developed a powerful record of achievements.”

These achievements, the grievance stated, included “creating and spearheading Government Companies Associate Referral Applications that resulted in over 3,000 new wealth administration accounts and $5 billion in wealth administration property below administration for the Agency.”

Moreover, “below his management, the Agency’s Government Companies group grew from 50 to 330 staff, almost tripled in funds dimension and performed a pivotal function in producing income for Morgan Stanley throughout a interval when different divisions struggled to be worthwhile,” the grievance alleged.

In about April 2023, the wirehouse began saying a sequence of layoffs due to its latest monetary “underperformance,” in response to the grievance. The corporate “applied nearly all of the layoffs by combining and collapsing related groups,” it stated.

Nevertheless, as a consequence of its “Morgan Stanley didn’t goal Meyersburg’s Government Companies group for elimination nor did it lay off a big variety of staff from the Government Companies group,” the grievance said.

However “Morgan Stanley knowledgeable Meyersburg on Might 11, 2023, that he was being terminated and changed within the Managing Director function that he had held for almost three years with a Black feminine with considerably much less expertise and {qualifications} for the place,” the grievance alleged.