Morgan Stanley promotes second exec with link to fishy loans

Morgan Stanley has promoted a second executive linked to a questionable sales contest that pushed risky loans on its customers, The Post has learned.

Eric Maiuri, a Boston-area vice president who pushed the sales contest on colleagues, was recently named an associate regional manager, one source said.

He’s taken over responsibilities from Jason Frank, who oversaw the sales contest that sparked at least two investigations.

Frank still works at the bank as a loan specialist for wealthy customers, according to his LinkedIn profile.

Morgan Stanley is being investigated by the Financial Industry Regulatory Authority and Massachussetts’ top securities regulator for the questionable loan sales, which allegedly put the bank’s interests before its customers.

The Post first reported on the sales contests and the “Glengarry Glen Ross” culture that came with it.

Read on.

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