Morgan Stanley Midtown Manhattan Manager Turetzky Departs Abruptly
A longtime Morgan Stanley branch manager in New York City abruptly left the firm on Tuesday, without explanation.
The departure of David Charles Turetzky, who had been with the firm since February 2000 and in managerial roles since 2002, is notable because of his long tenure at locations near the investment bank’s midtown Manhattan headquarters and the quick manner of his dismissal.
Turetzky left on Tuesday amid conflicting reports from colleagues within and outside the Park Central branch at 55 E. 52nd Street that he has been running.
“It was mutual and amicable,” Turetzky said in a brief phone call to his home phone number in New Jersey. “I’m looking forward to the next chapter in my life.”
One person who spoke on condition of anonymity said he is believed to have been held responsible for recently discovered supervisory lapses related to some bad hires.
A Morgan Stanley spokeswoman did not respond to requests for information.
In August 2015, a married couple who worked in Turetzky’s branch brought a whistleblower suit against him and the firm alleging that they were fired after complaining that some assistants and interns who were not licensed were making batch trades in client accounts and promising unrealistic mutual fund returns.
A federal judge last July dismissed their claims against Turetzky, saying they had failed to exhaust administrative channels outside of the court. Their case against the firm is pending.
Turetzky’s LinkedIn profile says that after working as a financial advisor for two years, he rose to become assistant branch manager, complex sales manager and New York City District sales manager between January 2002 and February 2008. He has kept that position through the financial crisis and Morgan Stanley’s turbulent merger with Smith Barney for the last nine years.
Patrick Langone, director of the firm’s Park Avenue Plaza complex, is searching for a replacement for Turetzky, according to two people at the branch.
Turetzky began his brokerage career at First Institutional Securities in 1997, according to his Financial Industry Regulatory Authority’s BrokerCheck report, which is clear of any client complaints or “disclosure events.”