Skip to content
Business
Legal

Citi Sues Morgan Stanley Wealth Defector Over $636 Million Book

  • Steven Taub contacting former clients at Citi, lawsuit claims
  • Citi says Taub already convinced clients to move $100 million
A worker enters Citigroup headquarters in New York.

A worker enters Citigroup headquarters in New York.

Photographer: Juan Cristobal Cobo/Bloomberg

Citigroup Inc. accused a former wealth manager of improperly trying to move client accounts worth $636 million to his new employer, Morgan Stanley.

Citi sued Steven I. Taub Thursday in New York state court, alleging he was contacting former clients in violation of a 12-month non-solicitation agreement. According to the suit, Taub, who resigned from Citi last month, has already convinced dozens of clients to move more than $100 million.