Morgan Stanley CEO James Gorman Threatens To Personally Fire Anyone Caught Leaking Bonus InformationBy Bess Levin
By its own estimation, Morgan Stanley’s bonuses are set to suck this year. The best employees have been told to hope for is a year on year decrease of 10 to 30 percent. And for his own part, chief exec James Gorman has been fairly vocal about the need for Wall Street to get to a place where failure isn’t rewarded isn’t rewarded as richly as success. Since some of Morgan Stanley’s business have not exactly succeeded with flying colors this year, it should follow that their staff will be compensated accordingly. Perhaps anticipating that there will be some unhappy campers, Jim has suddenly decided that while it’s no secret most people’s pay will be in the toilet, which he supports, Morgan Stanley must suppress this information from the outside world. How is Gorman planning on going about enforcing the new rule? Brute fucking force.
Morgan Stanley Chief Executive James Gorman raised some eyebrows during a routine conference this week when he threatened to “personally escort” [out] anyone found leaking any details of the firm’s compensation levels to the media. Gorman, who has been pushing hard to keep the lid on bonuses and has railed against the superstar mentality on Wall Street, unexpectedly read the riot act to about 500 managing directors during the usually staid year-end conference call, according to sources familiar with the call.
After catching our breath at the thought of JG approaching someone’s desk and saying “Let’s go, chief,” one is reminded of a similar attempt by the bank to keep truth sharing at bay that went something like this:
…and of the fact that guess what, ‘Stan? YOU CAN’T HIDE THE TRUTH! For those of you feeling as though you want to get something off your chests at some point over the next several weeks, perhaps something that starts with a ‘b’ and ends with a ‘onus numbers,’ rest assured that there are many ways for you to do so that will not result in an encounter with Mr. “I’ll pull you out myself.” In addition to emailing us (from your NON-WORK ADDRESS), they include:
– Calling us collect at: 212-334-1871
– Texting the DealBreaker Tips Line: 973-495-0177
– Meeting us in an alley of your choice
– Wild card
All of those methods are the utmost in secure. Having said all that, I think we can all agree it would provide some level of amusement to see the genteel Aussi get his gangster on and bust some skulls. If you’d like to offer yourself up so that others might enjoy such a scene, feel free to transmit the information to us in the least discreet way possible and we’ll do our best to help you find a gig on the other side.