Latest news with #MerrillLynch
Daily Mail
7 days ago
- Business
- Daily Mail
Married city banker sacked after brief affair with junior colleague claims she became ‘unhinged' when she learned his wife was pregnant, tribunal hears
A married city banker who was sacked over an affair with a junior colleague claims she became increasingly 'sinister and unhinged' after finding out his wife was pregnant. Stanislav Stepchuk, a former director at Merrill Lynch, is suing the US investment giant for sex and age discrimination after it dismissed him for 'reckless and inappropriate' behaviour. He claims the bank decided it was 'safer' to get rid of him, a man in his 30s, than a woman in her 20s. At an employment tribunal in London, Mr Stepchuk said the woman pursued him relentlessly at the bank, her first job after university, in 2022. Talia Barsam, for Mr Stepchuk, said the woman - known as Colleague A - became 'increasingly hostile' when Mr Stepchuk tried to break off their 'brief, consensual relationship'. When he told her that his wife was pregnant, the woman began to 'taunt and threaten' him with 'sinister and unhinged remarks', it was claimed. She sent him text messages including 'any lie is suicide' and 'you need to stay alive to take care of your family'. On one occasion, it's claimed, Colleague A told Mr Stepchuk she would not mind being a 'murderer' of his unborn child. Merrill Lynch is an investment and wealth management subsidiary of Bank of America, with offices in the City of London Ms Barsam said: 'In contrast to the support received by Colleague A, [Mr Stepchuk's] concerns regarding Colleague A's threats were ignored. The difference in treatment is explained by [his] sex and age.' She said the decision to sack him was 'rooted in discriminatory and gendered assumptions about the way men and women conduct sexual relationships', adding Merrill Lynch had assumed a man in his 30s was more likely to be 'the aggressor in a sexual dynamic' and a woman in her 20s 'an innocent victim'. The tribunal heard Mr Stepchuk invited the woman to a WhatsApp chat on January 3 2023. Within an hour, he started sending her overtly sexual messages. Days later he sent her two intimate photos of himself and persistently asked her to send nudes, which she declined. Claire Darwin KC, for Merrill Lynch, suggested the woman had been shocked and uncomfortable by the advances. But Mr Stepchuk insisted: 'She was engaged in flirtatious behaviour and showed no sign of discomfort about me sending the messages. The day before she said she wanted to have sex with me even though she knew I was married. 'It was clear to me that she liked me and was attracted to me. The way she looked at me, her invitation to go for a drink, her chats with me in the office - she was pursuing advances towards me. I did not pursue her.' Asked about a message the woman had sent him revealing she was a virgin, Mr Stepchuck said: 'She was throwing more coal on the fire. When she found out my wife was out of town, she immediately asked me for a date.' Ms Darwin suggested he was lying about the woman making the first move, telling him: 'You realised that unless you an invented an invitation, the aggressive way you went about approaching Colleague A was reckless, risky and inappropriate.' The tribunal continues.
Bloomberg
11-07-2025
- Business
- Bloomberg
Bloomberg Masters in Business: Richard Bernstein
Barry speaks with Richard Bernstein, CEO and Chief Investment Officer of Richard Bernstein Advisors. Rich has over 35 years′ experience on Wall Street, most recently as the Chief Investment Strategist at Merrill Lynch. Prior to joining Merrill Lynch in 1988, he held positions at E.F. Hutton and Chase Econometrics. They discuss the growth in his firm, the overall macro investment environment, and state of markets today.
Toronto Sun
09-07-2025
- Business
- Toronto Sun
Ex-banker fired for 'serious misconduct' after office affair files discrimination suit
Ex-Merrill Lynch director dismissed for threatening female subordinate while wife was pregnant Stanislav Stepchuk is suing American investment bank Merrill Lynch for sex discrimination. Photo by Stanislav Stepchuk / LinkedIn A former banker in England is suing for sex discrimination after he was dismissed from his job for having an affair with a younger colleague while his wife was pregnant. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Stanislav Stepchuk was working as a director at American investment bank Merrill Lynch in London when he began messaging the underling in January 2023. Days later, he sent the woman an unsolicited 'intimate photograph' of himself. According to Britain's Daily Mail , Stepchuk told an employment tribunal they texted each other 'sexually explicit and highly personal' exchanges on WhatsApp. In one message, the woman — referred in employment court as Colleague A — revealed she was a virgin who wasn't experienced in bed. During the hearing, the employment tribunal heard they began a relationship and were intimate twice. But by August 2023, Stepchuk said he tried to end the tryst after learning his wife was pregnant. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Read More Stepchuk claimed the woman responded to his request with 'hostility, taunts and threats' and that if she revealed the relationship to the bank it would affect his wife, her pregnancy, his child, his parents and possibly put his life in danger. Despite Stepchuk's allegations, an internal review by the bank found he threatened her and they fired him for engaging in an office romance. 'He was terminated for serious misconduct, including acting inappropriately while pursuing sexual relations with a junior colleague and threatening her for complaining to our human resources team,' a Merrill Lynch spokesperson told the outlet. This advertisement has not loaded yet, but your article continues below. 'The bank went through a robust disciplinary process before dismissing. His claims were thoroughly investigated and found to have absolutely no merit.' Stepchuk, now a father of two, filed a lawsuit against Merrill Lynch alleging sex discrimination and harassment, age discrimination and unfair dismissal. He accused the bank of not fairly investigating his grievance. RECOMMENDED VIDEO Stepchuk's identity became public knowledge during a preliminary hearing after an employment judge was asked to rule on whether their names would be kept private. The judge decided that revealing her name was 'irrelevant' to the dispute, while Stepchuk's identity couldn't be protected because he publicly brought the action to the court. 'I consider the expectation of privacy lower in an extramarital affair at work, where the risk of discovery is acknowledged by (Mr. Stepchuk) and Colleague A in the WhatsApp messages,' Judge Christabel McCooey said. 'However, as a third party to these proceedings, I do not find it foreseeable that discussion of her sexual inexperience would be before a public employment tribunal.' Toronto & GTA Olympics Columnists Toronto Maple Leafs Basketball
Time of India
09-07-2025
- Time of India
Former Miami Dolphins star Reshad Jones caught in jaw-dropping $2.58 million fraud after financial advisor splurged on luxury
Former Miami Dolphins star Reshad Jones caught in jaw-dropping $2.58 million fraud after financial advisor splurged on luxury (Image via Getty) The trusted money manager of former NFL player Reshad Jones is now facing serious legal trouble. In a case that has shocked both sports and finance circles, police arrested two people accused of stealing over $2.5 million from the ex-Miami Dolphins safety. Behind the scenes, shocking purchases and wire transfers exposed a deeper betrayal. The case has brought attention to athlete financial fraud like never before. Isaiah T. Williams allegedly stole $1.58 million from Reshad Jones through wire transfers and luxury spending On June 25, 2025, authorities in Florida arrested Isaiah T. Williams, former financial advisor to NFL star Reshad Jones, on charges of grand theft. Williams served as Jones's advisor from January 2022 to March 2024, during which time he allegedly used 133 wire transfers to move $1.58 million from Jones's account. — nypostsports (@nypostsports) According to Fort Lauderdale police, the stolen money was used to fund Williams's personal lifestyle, including first-class flights, stays in high-end hotels with multiple women, purchases of designer clothing and jewelry, visits to nightclubs and strip clubs, and legal services. Williams also used the funds for luxury shopping in Mexico, as reported by Williams previously worked at a Merrill Lynch office in Boca Raton until his resignation in December 2024. His BrokerCheck profile lists misconduct claims for 'misappropriation and improper outside business activity' dating back to 2019. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 日本の高収入建設職種（2025年）：一覧を見る 建設作業員 | 検索広告 こちらをクリック Undo He was released on July 2, 2025, on a $1 million bond, according to the Palm Beach Sheriff's Office. Octavia Monique Graham and Isaiah Williams also accused of a joint $1.03 million scheme against Jones Alongside Williams, Octavia Monique Graham, age 52, was arrested after surrendering to police on June 30, 2025. She faces charges of money laundering and first-degree grand theft. Graham is accused of working with Williams to transfer an additional $1.03 million from Jones's accounts between October 2019 and September 2021. Also Read: Jonnu Smith Blasts Miami Dolphins After Trade, Accuses Team Of Disrespecting His Value Investigators say 16 checks totaling $435,000 were deposited into Williams's Chase Bank account, while 88 Zelle transfers added up to another $184,000. Graham is currently held on a $750,000 bond at the Paul Rein Detention Facility in Pompano Beach, Florida, and has entered a not guilty plea. Jones, who played for the Miami Dolphins from 2010 to 2019, has confirmed plans to press charges. His lawyers stated that Merrill Lynch should also be held accountable for not protecting his assets. They have filed a lawsuit seeking full financial recovery and justice for their client. Catch Manika Batra's inspiring story on Game On, Episode 3. Watch Here!
The Independent
09-07-2025
- Business
- The Independent
Married banker sacked over affair with his co-worker sues for sex discrimination
A married banker who was sacked over an affair with a junior colleague has sued his employer for discriminating against him 'because he was more senior and male', a tribunal has heard. Stanislav Stepchuk was dismissed for misconduct after a disciplinary procedure found that he had acted inappropriately in pursuing sexual relations with the co-worker, an employment judge was told. Stepchuk ended his affair with the junior colleague – referred to as Colleague A – in the summer of 2023 after learning that his wife was pregnant, the London Central Employment Tribunal heard during a preliminary hearing last month. Stepchuk is now suing his employer for direct sex and age discrimination, sex-related harassment, and unfair dismissal. 'The claimant says the respondent discriminated against him (and that) its approach was 'tainted' by discriminatory assumptions that because he was more senior and male, he was a perpetrator of sexual misconduct,' employment judge Christabel McCooey wrote in her reserved judgment published on Monday. Stepchuk worked at Merrill Lynch, an American wealth management firm, from March 2018 until the termination of his employment in January 2024, the judge was told. In January 2023, Stepchuk, then a director at the firm, and Colleague A began exchanging WhatsApp messages, with Stepchuk sending her an intimate photograph of himself four days into their exchange, the tribunal heard. In those messages, Colleague A disclosed that she was a virgin and 'lacked any sexual experience', the judge was told. The pair were reportedly intimate on two occasions before Stepchuk ended their relationship. This caused Colleague A to respond with 'hostility and taunts', Stepchuk claimed before the tribunal. He further claimed Colleague A threatened him on several occasions 'by suggesting that a disclosure of their relationship to (his employer) would have consequences for his wife, the continuation of her pregnancy, his child, and his parents and that his life may be in danger.' Colleague A raised a formal grievance against Stepchuk on August 8 2023, in which she claimed he had 'sexually harassed her and threatened her when she said she would be informing HR about her concerns,' the tribunal heard. Although Stepchuk was dismissed for misconduct, the employer did not uphold Colleague A's complaint of sexual harassment, finding the relationship had been consensual, the tribunal heard. During the hearing on June 3, Stepchuk asked for his colleague's name to be made public but requested for his own identity to be protected, telling the tribunal that he became 'particularly upset in the asymmetry' that Colleague A would be granted anonymity but he and his family would not. His request was however dismissed, with Judge McCooey telling the hearing: 'The claimant's opposition has the flavour of wanting to punish Colleague A for her alleged behaviour by 'naming and shaming' her. 'I consider it a significant factor that, unlike Colleague A, the claimant has chosen to bring these proceedings. 'It is not unreasonable to regard the person who initiates proceedings as having accepted the normal incidence of the public nature of court proceedings.' The case is scheduled for another hearing on July 16.
