James Gorman

Cash as a physical entity will virtually cease to exist, with coins and checkbooks consigned to museums. As people conduct their financial transactions on hand-held devices made secure by advanced biometrics, even tipping will be done electronically. Paper currency does not disappear entirely, however. You’ll still need it to buy a beer at a certain dusty bar in the Australian outback, where the proprietor sticks stubbornly to a cash-only policy, ‘because you never know, mate!'” [WSJ]

Serious with colleagues, even a bit remote, Mr. Gorman can be a very demanding boss. “People looking for a John Mack-style slap on the back are not going to get it with James,” said one longtime Wall Streeter. “If you’re looking for regular affirmation, it’s going to be a lonely existence.” [...] When Mr. Gorman is uncomfortable or has bad news to deliver, he often clears his throat, and as a result, throat-clearing has entered the firm’s lexicon as code for trouble, as in: “How was the meeting with James?” “There was a lot of throat-clearing.” “Sorry to hear that.”New York Times, JUNE 28, 2014

For those Morgan Stanley employees who have been summoned to Gorman’s office but are unsure how to interpret the clears, please refer to the following: Read more »

  • 24 Jun 2014 at 2:59 PM

New York’s Hottest New Club Is Gorman

This place has everything: 22 year-olds willing to work 100 hours/week, an exclusive location next to the Times Square M and M’s store, the attention of a Fox Business reporter who obsessively tracks the size of the CEO’s balls, a regular who looks like a zombie, $20/night Seamless allowance, 24 year-olds who don’t give a FUCK, and a bouncer who’ll throw you out for calling him Jim. Read more »

Not being told what a shitty job management is doing somehow feels off. Read more »

  • 02 May 2014 at 4:20 PM
  • Banks

But Who Will Jürgen Fitschen And Anshu Jain Hang Out With?

Deutsche Bank’s CEOs will still be allowed to show their faces at the St. Petersburg International Economic Forum, because German businessmen—familiar as they are with protecting their own abroad—don’t see any reason why imperial irredentism should get in the way of making money. But they’re gonna have a hard time finding other bank chiefs to have caviar fights with. Read more »

“I’m not sure I understand it. I mean, it is totally surreal. I mean, who’s the founder, this guy in L.A. What’s going on with Mt. Gox? I mean, there are so many moving parts. Let’s just say I would think and hope that the regulators are paying a lot of attention to it.” [FBN]

Morgan Stanley ended up doing alright for itself in the third quarter, just as Gorman’s posture suggested it would. Read more »