Morgan Stanley fires financial adviser after data theft

Morgan Stanley fired a New York financial adviser accused of stealing account information from 350,000 clients, a person familiar with the matter said.

Galen Marsh, a financial adviser who worked at a New York branch of Morgan Stanley’s wealth management arm, was terminated last week, the person said. Mr. Marsh, 30 years old, had joined Morgan Stanley MS, +1.13%   in 2008 and had been promoted from trainee less than a year ago.

Marsh could not be immediately reached for comment. He worked in a Morgan Stanley office in midtown Manhattan, according to the firm’s website.

Morgan Stanley announced earlier Monday that it fired an employee for the alleged theft but didn’t give the employee’s name or position with the firm. The firm said information regarding about 900 of its clients was briefly posted online but that no clients had incurred losses as a result.

Morgan Stanley said earlier that it referred the matter to law enforcement. No one had been arrested in connection with the alleged theft as of Monday afternoon.