James Gorman

  • 10 Jul 2012 at 12:16 PM

Layoffs Watch ’12: Morgan Stanley

The House of Gorman is said to be in the process of letting some employees down easy. Read more »

  • 12 Jun 2012 at 2:23 PM

Layoffs Watch ’12? Morgan Stanley?

James Gorman is approaching cost-cutting with the same focus as the Zodiac killer, so maybe. Read more »

Then we’ll see what’s what. Until then? Step off, bitch. Read more »

Gasparino: Let’s get something straight right off that bat– 6 months ago, someone at your firm wanted to kill me…you don’t want to kill me, correct?
Gorman: Charlie…I don’t want to kill you…I don’t think they did either.
Gasparino: I don’t blame them if they did…given my reputation with PR people. So thank you for coming here, checking your guns at the door. Read more »

Gorman doesn’t fit the image of a Wall Street titan. Notwithstanding his $10.5 million pay package, he shows up at black-tie events in a rumpled tuxedo he bought as a business- school student in the 1980s. He keeps supplies of Vegemite — a favorite Australian food that’s made from yeast extract — in the executive kitchen and eats it on toast. He often walks home from his Times Square office to his Upper East Side townhouse and was spotted on one weekend in a track suit and sneakers waiting in line at the post office. The 6-foot-3-inch (1.9-meter), 195-pound (88-kilogram) Gorman’s favorite pastimes include reading John le Carre spy novels and taking boxing lessons weekly at his gym…Gorman is the sixth of 10 children born to Melbourne engineer Kevin Gorman. His father, now 90, was home-schooled until age 14 because he lived in the Australian outback, far from any town. Kevin Gorman once had each of his children take an IQ test, James says. He posted the results in the family’s living room, with each child’s score and expected occupation. James, whose sister is now a judge on the Supreme Court of Victoria, came in fifth — a result that relegated him to an expected job of “midlevel bureaucrat or manager,” he recalls. [Bloomberg, earlier]

Earlier this week, in an interview with Bloomberg TV, Morgan Stanley CEO James Gorman was asked how he would respond to employees expressing disappointment with this year’s bonuses. Perhaps at his wits end with compensation complaining, perhaps to indicate there is a new James Gorman in town and he is not to be fucked with, perhaps to get it through his staff’s thick skulls that they ought to WAKE UP, perhaps because he thinks the building is getting overcrowded, Gorman said he’d tell them three things: “You’re naive, read the newspaper, No. 1. No. 2, if you put your compensation in a one-year context to define your overall level of happiness, you have a problem which is much bigger than the job. And No. 3, if you’re really unhappy, just leave. I mean, life’s too short.” When asked the same question by the same organization today, Brian Moynihan was slightly less aggressive in his answer. I mean, he’d like you to stay but he’s not going to force anyone to do anything they’re not comfortable with. Don’t get him wrong he wants you to be there but please can we not have any intense discussions about it? Stay/go just please keep him out of it. The idea of you yelling at him makes his stomach turn. He can’t do it. He won’t. Read more »

As you may have heard, bonuses were announced at Morgan Stanley last week and while some employees here and there did okay for themselves, for the most part, people were not pleased with the fact that pay was down, on average by 20-30 percent. In fact, many were downright distraught, particularly among those who received zeros. As these things tend to go, a bunch of people have suggested they’ll be taking their talents elsewhere, where they’ll be appreciated and, at the very least, have made a point of sighing audibly around the office to express their disappointment.  By now, though, hopefully everyone’s gotten everything out of their systems because one person who’s no longer interested in hearing it? James Gorman. The Morgan Stanley CEO appeared on Bloomberg TV this afternoon to get a few things off his chest and among them: 1) Those complaining should consider waking the fuck up 2) If you let money define your happiness, he feels sorry for you and 3) “If you are really unhappy, just leave.” Seriously, get the hell out here. Read more »