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Merrill Lynch: Pass me a Sharpie

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Any women, minorities, Jews or otherwise handicapped people looking for work at a bulge-bracket bank? Might we suggest Merrill Lynch, where a NASD arbitration panel recently ordered the bank to pay Fariborz Todd Zojaji $1.6 million for firing him over the issue of being Persian? In addition to “sending [the Iranian broker] to a corner to eventually be terminated,” the panel stated that Merrill defamed Zojaji on public record (his Form U5), destroying “claimant’s ability to become employed in the securities industry."
Mark Herr, a spokesman for the Lynchettes said that the bank “regretted the panel didn’t view the evidence in the same light we did,” which is surprising, considering Merrill had registered with the Prejudice? That’s Cool, Whatever panel of arbitration.
This is the second time in a month ML has been caught with its hand in the cookie jar of Iranian hate. On June 27, the bank was sued by the Equal Employement Opportunity Commission for firing Majid Borumand, an analyst with the firm’s global markets and investment banking model development group.
You’ve actually got to hand it to the O’Neals. Where some banks might say, “You know what? We’ve been getting kind of a reputation for condoning sexual harassment and bigotry, maybe we should cool it on the hate for a bit, you know, just dial it down for the time being,” Merrill said, “No, if anything, let’s take it up a few notches and really call attention to ourselves. We’re going to make it work for us.” Next up: a writing utensil sex suit of our very own!
Fired Iranian broker wins $1.6M from Merrill [AP via International Herald Tribune]
U.S. Sues Merrill on Treatment of Muslim Analyst [DealBook]