Tr?id=566623520170033&ev=PageView&noscript=1

Former Citibank Advisor Agrees To Non-Solicit Ban After Departing Morgan Stanley

Posted on April 5th, 2022 at 2:06 PM
Former Citibank Advisor Agrees To Non-Solicit Ban After Departing Morgan Stanley

From the Desk of Jim Eccleston at Eccleston Law:

A former New York-based Citigroup advisor has agreed to a client solicitation ban after recently departing Citigroup to join Morgan Stanley.


Andrey Borodkin, who departed Citi Personal Wealth Management for Morgan Stanley in February 2022, agreed to a stipulated injunction restricting him from soliciting his former clients. The injunction additionally barred Borodkin from utilizing any client contact information he had obtained at Citigroup to contact former clients. However, Borodkin still will be permitted to solicit family members and other clients he had advised prior to joining Citigroup, according to the court filing.


As of March 16, Borodkin allegedly had transferred at least $74 million in client assets to Morgan Stanley, according to Citigroup. Citigroup alleged that Borodkin “repeatedly” attempted to solicit at least seven former clients while four clients informed the firm that Borodkin “tried to convince them to move with him by suggesting that no one at Citi was monitoring or familiar with their accounts.” In 2017, Citigroup and Morgan Stanley both withdrew from the Protocol for Broker Recruiting, which is an industry agreement that permits advisors to solicit and do business with their former clients when transitioning between member firms.


Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 
 
 

Tags: eccleston law, citibank, morgan stanley

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I just wanted to say thanks again for preparing and executing my case in such a professional manner. It was a pleasure to watch two professionals take such pride in their work, as well as becoming personally in tune with your client (Me). I would personally recommend you and your firm to anyone.

John O.

LATEST NEWS AND ARTICLES

1789752835 Law
September 18, 2026
SEC Sanctions Investment Adviser and Executive for Disproportionate Trade Allocations

The Securities and Exchange Commission (SEC) has determined that the conduct of registered investment advisory firm Barrington Asset Management, and its executive vice-president and chief compliance officer, Gregory Paris, disadvantaged clients and breached their fiduciary duties owed to clients.

1789665543 Law
September 17, 2026
SEC Charges 38 Entities Over Allegedly Fraudulent Adviser Filings

The Securities and Exchange Commission (SEC) charged 38 entities with allegedly making material misrepresentations in Forms ADV filed with the SEC between 2025 and 2026.

1789589290 Law
September 16, 2026
Edelman Financial Engines Secures TRO Against Advisor Who Joined RFG Advisory

Edelman Financial Engines recently secured a temporary restraining order (TRO) against Chad A.