Merrill Lynch has been hit with a lawsuit alleging that it discriminated against Majid Borumand - a former senior IT programmer at the investment bank - because of his Iranian origin and Muslim faith.
The US Equal Employment Opportunity Commission filed the lawsuit against the bank in the US District Court for the Southern District of New York. The suit claims that Merrill Lynch had discriminated against Borumand since June 2005 by failing to promote him and ultimately terminating his employment because of his origin and faith.
Borumand joined Merrill Lynch in 2002 under an immigration programme. He is described as a quantative analyst in the lawsuit, but Merrill Lynch has stated that he was a senior programmer in its global equity technology group.
Says the complaint: "While employed at Merrill Lynch, Mr Borumand was subject to a number of remarks that reflected animus towards his national origin and religion, including but not limited to being told that "the reason that you are not allowed on the trading floor is because you are from a country which has a high risk factor and a threat.""
The complaint alleges that these unlawful employment practices were intentional and adversely affected Borumand's status as an employee.
Merrill Lynch spokesman Mark Herr told reporters that the bank strongly disagrees with the EEOC and denies Borumand's allegations.