Is Morgan Stanley’s Next Firm-Wide Holiday Party Going To Be Held In A Starbucks Bathroom?

Sort of a trick question since, as you all know, banks haven’t held firm-wide holiday parties in quite some time but if they did, is that what we could expect? Based on recent reports about a new approach James Gorman is taking with his staff, yes.

When Morgan Stanley’s top executives gathered in mid-September at the Gramercy Park Hotel in Manhattan to discuss strategy, some participants complained that the room was too small. Apparently, that was the point: James P. Gorman, Morgan Stanley’s chief executive, chose the cramped quarters to force discussion among the executives, said people briefed on his decision but not authorized to speak on the record.

Employees will get room to stretch their shit out when they’ve earned it!

Deep Cuts Raise Questions About Morgan Stanley [Dealbook]

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18 Responses to “Is Morgan Stanley’s Next Firm-Wide Holiday Party Going To Be Held In A Starbucks Bathroom?”

  1. Guest says:

    Gorman's approach is utterly nonsensical. There is doubtlessly satisfaction to be drawn from the fuck these mollycoddled bankers and their expectations of pay and perks crocodile dundee bullshit, but the basic fact is that well run desks bring in eye watering sums (even if restricted to flow) and others are willing to pay to play.

    If you're going to get the fuck out, get the fuck out, don't trim 1600 and leave behind the under resourced and incompetent.

  2. casualobserver says:

    “We are not going to pull a UBS,” the senior executive Colm Kelleher told a private dinner of Morgan Stanley shareholders at Oceana restaurant in Midtown Manhattan.
    -we are bleeding cash and cutting opex, but lets not get crazy here and downsize the 2007 bull mkt oppulent dining practices.

  3. Beautiful Existence says:

    This stall's occupied.

  4. Fat Cat says:

    Do people still read Dealbreaker? I switched to Zero Hedge a couple of years ago

  5. Guest says:

    and exactly how many people did you have in that room?

    – Fire Warden

  6. SpareSquare says:

    Do you have a square to spare?

  7. Guest says:

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  8. Guest says:

    As long as all the stalls have circular holes in the dividers, we should be bangarang!

    -MS Glory Quant

  9. Bernie Bickers says:

    Looks like the room won't feel so crowded next year…

  10. Dundee says:

    This was all a cultural misunderstanding. Gorman comes from a family of 6 kids growing down under. So, this was actually having a comfort food for him.

    MS Cultural Awareness Champion.

  11. sohbet says:

    telling these little stories, here's a good idea: Have a point. It makes it so much more interesting for the listener.

  12. sohbet says:

    officers to investigate Blackstone's fishy financial transactions, but they wound up giving them