James Gorman

Tomorrow morning Morgan Stanley will report its earnings for the third quarter. How will the bank do? Various analysts have predicted good things for the House of Gorman, having pored over the numbers available to them, and taking into account what other banks have said, guidance, macro economic factors and so on and so forth. Fox Business reporter Charlie Gasparino has also come up with a guesstimate, though his was arrived at in a slightly different fashion. Namely, talking to people, taking the pulse, and inquiring as to whether CEO James Gorman has been walking around the building like he’s got some pair of balls on him or not. Read more »

Literally. Read more »

  • 18 Jul 2013 at 1:15 PM

James Gorman: Give It Up For Ben Bernanke

“Chairman Bernanke has done a phenomenal job. Hat’s off to him. The fed has played this well. They need to see concrete, unambiguous signs of recovery, at which point, we should all celebrate the fact that rates are rising.” [BloombergTV]

  • 24 Jan 2013 at 6:38 PM

Bonus Watch ’13: Morgan Stanley CEOs

The bad news: James Gorman’s pay fell 30 percent this year. The good news: he’s now in a position to show employees how to take these setbacks like a man, rather than grumbling like someone who puts their compensation in a one-year context to define their overall level of happiness. Read more »

Great news for anyone who’s been sitting nervously at their desk at Morgan Stanley the last few days, wondering whether or not their boss was about to tap them on the shoulder to go have a chat with HR: if you’ve made it this long, you’re safe! There will be no more human layoffs for the foreseeable future (plants may still be at risk). Read more »

Since taking the reins at Morgan Stanley in 2010, CEO James Gorman has guided the firm with a managerial style that boils down to telling people, more or less: You’ll get it when you’ve earned it, “it” being anything from personal space to money to his respect. On the point of compensation, last year he told employees complaining about what they were paid to either open a newspaper and get over themselves or do everyone a favor and quit. Today brings news that this year, he’s doubling down on that mandate and daring anyone to make something of it. Read more »

If you’re looking for a cheerleader, go bark up another tree.

“Say you want to be out ahead of it and give a lot of speeches and talk about all the good we’re doing,” Gorman said today at an industry conference in New York. “And then some trader does some stupid thing like this guy at UBS did and he’s in jail and all bets are off,” Gorman said. He was referring to Kweku Adoboli, the UBS AG trader convicted of fraud this month in the largest unauthorized trading loss in British history…Traders at New York-based Morgan Stanley had too much latitude in the past, “what I call having an outsized sandbox,” Gorman, 54, said at the conference, which was sponsored by the Securities Industry and Financial Markets Association. “Until we can be really confident we’ve got discipline around the sandboxes, I think you have to be really careful not to be holier than thou,” Gorman said. “We’re going to be in the doghouse for a while.”

Incidentally, this would a good time to mention that Gorman’s bonus policy instituted last January– STFU or GTFO– still stands. Read more »