Should your ex-boss get a say in your new job? Wall Street says yes.
Wall Street and banking executives, one of the hallmarks of the job comes into play only at the end: a signed noncompete agreement.
The employment clauses have long been used by big-name companies to prevent top employees from working for a nearby competitor, typically for six months to two years after leaving, allowing firms to protect intellectual property and deter brokers and consultants from poaching clients.
But that may soon change in New York.
Five months ago, the state Legislature passed a bill that would outlaw noncompete agreements, one of several efforts nationwide in recent years to protect a range of employees. All kinds of workers — from doctors to hairstylists to sandwich makers — are sometimes unknowingly trapped by the restrictive clauses.
But as the implications of a ban at New York City's most powerful industries have come into focus, so has a deep-pocketed lobbying effort to persuade Gov.
