Koleno had been with JPMorgan since 2005 when he started as a relationship banker with Banc One Securities Corporation (BOSC), which had merged with JPMorgan the year prior. He remained in that position until 2010 when he was promoted to a financial advisor associate and transferred to a JPMorgan Chase bank branch in Orland Park, Ill., where he signed his first confidentiality agreement.
He became a full financial advisor in January 2012, before being promoted again to a private client advisor in September 2013 for Chase Wealth Management, working out of the Orland Park bank branch office.
In the court documents, JPMorgan said it had to file for a restraining order to protect its brand and its customers.
“To prevent continued irreparable harm arising from defendant’s course of misconduct, JPMorgan seeks immediate injunctive relief barring defendant from soliciting JPMorgan’s clients and barring him from further using JPMorgan’s confidential and proprietary business and client information, pending resolution of JPMorgan’s claims against him in a related arbitration that JPMorgan is in the process of commencing,” the firm said in court documents.
James Garvey, a lawyer with the Chicago-based law firm Vedder Price, has been retained to represent Koleno in the case.
“Mr. Koleno has no comment on the matter except that he plans to vigorously address through legal proceedings the baseless claims brought against him,” Garvey said in an email.
Peter Wilmot, a managing partner at Professional Wealth Advisors, also declined to comment.
This story has been updated with comments from Garvey and Wilmot's response declining comment.