Paul V. Morris, a financial advisor whose name appeared in Department of Justice records related to convicted sex offender Jeffrey Epstein, has departed Merrill Lynch, according to multiple news reports on Monday. The move comes as scrutiny intensifies on Wall Street’s historical ties to Epstein, who died in federal custody in 2019 while awaiting trial on sex trafficking charges.
Morris had been with Merrill Lynch since 2016, working in the firm’s Manhattan office as part of Merrill Private Wealth Management, where he led the Morris Group, according to his LinkedIn profile. His BrokerCheck record shows a 27-year career in the securities industry, with prior stints at JPMorgan Chase and Deutsche Bank.
A Merrill Lynch spokesperson confirmed Morris’s departure to Reuters but declined to specify the timing. Bloomberg News first reported that Morris was no longer employed at the wirehouse. A Merrill spokesperson did not respond to a request for comment from InvestmentNews.
According to Reuters, the Epstein documents indicate that between 2017 and 2018, Morris communicated with Epstein’s assistant and accountant while at Merrill. The DOJ files also show that Morris was part of a JPMorgan team that approved Epstein as a client in 2011.
The departure adds to a growing list of personnel moves at major firms as Epstein-related litigation continues. In a separate case, Merrill Lynch paid $1.25 million to former Miami Dolphins player Sean Smith in a settlement linked to a former broker, marking the second such payout tied to Epstein-related accounts.
Morris’s exit also comes amid broader movement among advisors. For instance, TritonPoint Partners recently added a second father-son team, while Merrill hired a $450 million duo from Morgan Stanley. Meanwhile, Carson Group added a $1.1 billion Florida team from Osaic, and Cresset hired a JPMorgan veteran.
Regulatory developments are also reshaping the landscape. The North American Securities Administrators Association (NASAA) recently approved model rules for advisor advertising and franchise broker registration, which could affect compliance practices across the industry.
Morris’s departure does not necessarily indicate wrongdoing, but it highlights the ongoing fallout from Epstein’s relationships with financial institutions. The DOJ files have prompted internal reviews at several banks and brokerages, with some firms severing ties or facing lawsuits over their handling of Epstein’s accounts.
