Morgan Stanley

  • News

    Charlie Gasparino Names Morgan Stanley Guy Allegedly Helping To Expand UES Brothel Business

    Earlier this morning it was reported that Morgan Stanley “reviewed its visitor logs” upon hearing that one of its employees was supposedly conducting business with Anna Gristina/Scotland, a purveyor of prostitutes, when she was arrested this week. In the event the bank is still on the hunt, Charlie Gasparino claims to have a name.

    “…the executive involved with UES madam has been identified as David Walker, a broker in the midtown office. He has not been charged and didn’t return calls. Morgan Stanley has no comment.”

    Not to be confused with this guy.

    / Mar 7, 2012 at 12:40 PM
  • News

    Accused Madam Didn’t Sit Through Countless Meetings Discussing Capital Markets Strategy To Be Treated Like Some Common Pimp

    Remember Anna Gristina/Scotland? To recap, she’s the entrepreneur we were introduced to yesterday whose business hit a bit of a stumbling block when she was arrested by the Manhattan DA and charged with “promoting prostitution” out of her firm’s global headquarters, a whorehouse on East 78th Street. Gristina/Scotland is currently on Riker’s Island, having been unable to post bail, set at $2 million but prior to all this going down, she she was just a (self-described) CEO with big plans and an outlook not so different from her colleagues in the business world. Before being nailed as part of a 5-year investigation, a typical day for Anna included:

    Cursing her commute: “She hated coming to the city,” a friend told the Post.

    Reminding people she was running a Fortune 500 company here: She bragged to her old friends back in Scotland that she was “building an empire.” “I’m a CEO,” she wrote to one pal from her early days in the ancient village of Kirkliston. “Takes a lot of work,” she told another.

    Meeting with colleagues to discuss expansion plans, financing options, and potential IPO timeline: On the morning she was arrested, Gristina/Scotland was “with a friend and Morgan Stanley banker, having been to his office for a meeting to try to raise money to finance what prosecutors believe may be an online prostitution business.” (Anna’s lawyers argue she “was setting up a legal dating business, hoping to rival online titan Match.com.”)

    Bitching about Obama and how the guy’s adolescent perspective of carried interest was going to screw her over“Hoping to survive Obama,” she said in 2008. “Obama wants people like me to support the rest of America by taxing me more than I am already.”

    Dig a little deeper and you’ll presumably also find Gristina/Scotland also conducted quarterly earnings calls with investors, used all kinds of financial metrics to measure performance of her hooker employees, plotted acquisitions, and tried to cut costs while expanding her global footprint. Basically, she was building a multi-billion dollar company here and if anyone thinks she’s not going to fight these charges and come back stronger they think wrong.

    UES madam had millionaire clients, led life of suburban mom [NYP]
    Anna Gristina: Suburban mom or high-rolling madam? [AP]
    Suspected Manhattan madam Anna Gristina bragged to old friends in Scotland that she was ‘building an empire’ [NYDN]
    Earlier: Manhattan DA Pumps The Brakes On Mom/Madam’s Brothel Just As It Was About To Really Take Off With The Help Of Her Contacts In The Business World

    / Mar 7, 2012 at 11:55 AM
  • News

    Manhattan DA Pumps The Brakes On Mom/Madam’s Brothel Just As It Was About To Really Take Off With The Help Of Her Contacts In The Business World

    [caption id="attachment_69903" align="alignleft" width="240" caption="HQ on East 78th Street"][/caption]As the entrepreneurial among us know, successful, brand name business don’t just happen overnight. They take blood, sweat, tears and in some cases, other bodily fluids, that the public never sees. Anna Gristina was nearly there. The mother of four (who went by the name “Anna Scotland” professionally) had been providing hookers for to “wealthy, powerful men” (“politicians, top-law enforcement, influential lawyers, bankers, entertainment execs and Fortune 500 businessmen”) out of an Upper East Side whorehouse for a decade and a half, had developed a thriving client list willing to pay between $1000 (for a “Dream Girl”) to $2000+ (for an “Ultimate Elite Model”) per appointment, and made millions in the process. She was ready for the big time. Just the other day, in fact, Gristina/Scotland was sitting down at the office of her friend and business associate, a Morgan Stanley employee, to hear his plan for “expanding her operation through the Internet.” And then this happened.

    The petite, blond Gristina was caught on wiretaps claiming “to have made millions over the 15 or so years she has been in business as a madam,” Linehan said, according to newly released transcripts of the Feb. 23 hearing…Known in the industry as “Anna Scotland,’’ the Scottish native was nailed as part of a five-year investigation by the DA’s Official Corruption Unit, which probes NYPD and other uniformed officers for possible misconduct. At one point, Gristina was caught on tape saying her law-enforcement pals were “poised to help her out, to let her know if there is trouble on the front that she needs to be concerned about, particularly back during the Eliot Spitzer investigation,” Linehan said, referring to the former governor’s hooker scandal. An arrest warrant was issued for Gristina last month.

    When cops arrived at her upstate home, where she rescues wild pigs and raises pit bulls, they didn’t find anyone — but a wild boar chased a police officer around, the sources said. Gristina was nabbed soon after in the office of a Morgan Stanley banker and “close friend.’’

    It’s unclear if the friend was part of MS’s dominant tech team (and was entertaining Gristina/Scotland at HQ*) but knowing they tend to go after big fish companies about to pop it’s highly probable.**

    Hot mama is kink link to rich: DA [NYP]
    High-end madam busted for running upper East Side brothel is a suburban mom with four children [NYDN]

    *I know the tech team is based in California– MAYBE THIS DEAL WAS SO HUGE THE GUY WANTED TO INTRODUCE GRISTINA/SCOTLAND TO BIG JIM.
    **In our minds. Just let us have this.

    / Mar 6, 2012 at 12:43 PM
  • News

    Trail Of Breadcrumbs Led Police To Morgan Stanley Banker Who Accidentally Stabbed Cab Driver Over Fare Dispute

    “Jennings asked him to stop somewhere for food before taking the highway, so he took him to a deli on 10th Avenue, a stop that helped police investigators identify the banker, Ammar said. Video footage from the deli allowed police to recognize Jennings after Ammar said he was unable to remember the location of the […]

    / Mar 5, 2012 at 6:50 PM
  • News

    At Height Of Financial Crisis, One Morgan Stanley Employee Stood Up For Her Rights

    Specifically, her rights to Perrier on the company dime. It’s unclear what this woman’s name is so moving forward she’ll simply be referred to as The One With Brass Balls And A Dislike Of Tap.

    The daily Seamless stipend is considered sacred for employees, and any abuse of the system appears generally overlooked by higher-ups. When Lehman Brothers went under, for instance, Morgan Stanley lowered the Seamless limit from $30 to $25, much to the anger of workers. “People went nuts,” recalls a former employee. “Every so often there were these fireside chats with [Morgan Stanley CEO] John Mack ‘Da Knife’ and a collection of analysts. One of the women on the call asked Mack to raise the limit to $30 again. Mack, not really having paid much attention to expenses, was surprised to hear it had been reduced. Concerned, he asked her why she needed $30 instead of just $25. She said that with the new reduction, ‘I can’t order my Perrier anymore.'” The next day, as legend has it, there was an entire case of Perrier on her desk–courtesy of John Mack.

    In related news, the Morgan Stanley Seamless stipend is currently at $20. And while filing formal complaints at the top might have worked when MS was a free-for-all orgy of sparkling water and Italian pastries and whatever else your heart desired,** anyone considering pleading his/her case to James Gorman re: why this just won’t do should also think about boxing their shit up first, lest a hasty exit be necessary.

    How Wall Street Bankers Use Seamless To Feast On Free Lobster, Steak, And Beer [Fast Company]

    **Particularly if what your heart desired was a pair of fierce as fuck shoes.

    / Mar 5, 2012 at 4:26 PM
  • News

    Morgan Stanley Exec “Accidentally” Stabs Cab Driver After Difference Of Opinion Re: Fare

    William Bryan Jennings is the co-head of North American fixed-income capital markets at Morgan Stanley, though his responsibilities have been passed onto a coworker for the time being until a particular matter is “resolved.” That matter would be a cab ride he took on the evening of December 22, which resulted in Jennings being charged with “second-degree assault, theft of services and second-degree intimidation based on race or bigotry.” At present, there are two conflicting stories about what happened.

    According to the cabbie, Jennings was driven from Manhattan to his home in Darien, CT, at which point he refused to pay the $200 cab fare and instead began “threatening the driver and using racial slurs,” before intentionally stabbing the guy’s hand with a “pen knife” that he “uses for fishing.” According to Jennings’ lawyer, upon arriving at in Connecticut, WBJ, who colleagues have described as the “nicest guy you’ll meet,” was appalled to learn of the “exorbitant amount” the driver was charging (which WBJ claims had been upped to $300). After refusing to pay, the driver supposedly told Jennings he was “going to take him back to the city,” at which point Jennings pulled out the pen knife he had on him and “demanded to be let out of the car because he was fearful for his safety,” cutting the driver who WBJ “did not intend to hurt” after he put his hand through the dividing window. Jennings’ lawyer has 1) denied the racial slurs and 2) said it’s “mind-boggling” that his client was charged and not the other way around (though, according to reports, the driver called the police at 12:30am to report the incident, and Jennings never did).

    As none of us were there at the time, we should refrain from speculating as to which half of the he said/he said is telling the truth. Though clearly there are a couple of important takeaways here, including but not limited to the fact that if one is going to snub the Metro North, one should expect to pay, figuratively but more so literally. Manhattan to Connecticut? I’ve had rides from the UWS to Midtown East cost upwards of $40. Let’s not do this dance.

    / Mar 2, 2012 at 11:56 AM
  • News

    One More Peep Out Of Morgan Stanley Employees And Next Year’s Bonuses Will Be Determined By IQ Test (Results Posted In Lobby)

    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 […]

    / Feb 6, 2012 at 11:49 AM
  • favorites

    Bet Goldman Sachs Wouldn’t Have Played Favorites. Guess Ya Should’ve Thought Of That Before Relegating Them To Third Place

    Not sure if the word has gotten out yet, but yesterday afternoon social networking site Facebook filed to go public. Almost as exciting as the news itself (for those who reach self-induced stroke levels of excitement over such things) was the answer to the burning question vis-à-vis which bank would win the coveted and lucrative […]

    / Feb 2, 2012 at 5:05 PM
  • FaceBook, News

    Facebook Facebook Facebook Facebook

    Facebook! One thing about Facebook is that Facebook doesn’t need the money that Facebook is raising in the Facebook IPO that Facebook just filed. (Did you hear?) It’s got almost $4bn in the bank and it can’t even be bothered to pretend that it’s got any plans for what to do with more: The principal […]

    / Feb 1, 2012 at 6:45 PM
  • News

    Little Giant Paying Huge Dividends For Morgan Stanley Employee

    Forget the bruising defensive linemen and the stellar quarterback play. Brooklyn’s Jennifer Pernice thinks her lucky garden gnome — clad in a blue Giants jersey — has been the key to the team’s stunning late-season run. “He’s looking over Eli’s shoulder. It just brings them good-luck vibes,” she said. “Since he came into my life, […]

    / Jan 30, 2012 at 10:46 AM
  • News

    How Will Morgan Stanley Be Able To Pay Tech Bankers With A Measly $100mm Facebook IPO Fee?

    I really hope that Facebook is just faking us all out with this whole “we’re IPO’ing on Wednesday” thing that they haven’t said, in part because I have yet to park $100k of the Dealbreaker slush fund/Bloomberg budget in Facebook shares on SharesPost. But just in case they actually do something next week let’s analyze […]

    / Jan 27, 2012 at 6:45 PM
  • News

    James Gorman To Morgan Stanley Employees: STFU Or GTFO

    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 […]

    / Jan 25, 2012 at 1:27 PM
  • News

    Morgan Stanley Names 210 Managing Directors

    Which apparently represents a 9.5% drop from last year and “the lowest number of employees it promoted to that role since 2008,” lest anyone think Jim Gorman is fucking around. The era of cannolis and promotion free-for-alls is over. [WSJ, full list]

    / Jan 24, 2012 at 12:52 PM
  • News

    How Is The Whole “Don’t Risk All Your Money Trading For Your Own Account” Thing Working Out For US Investment Banks?

    All the big banks have reported earnings so let’s take a little stock of things, shall we? A thing I did midyear was look at the ratio of trading net revenues to VaR for GS and MS, to prove that MS was winning the trading or something. Let’s expand that a bit. The result is, […]

    / Jan 19, 2012 at 12:50 PM
  • News

    Bonus Watch ’12: Morgan Stanley

    The good news: the waiting– which is the hardest part!– is over. The bad news: this year’s bonuses.

    / Jan 19, 2012 at 10:49 AM
  • News

    Layoffs Watch ’12: Morgan Stanley

    Last week’s cuts are still a’ coming.

    / Jan 9, 2012 at 11:24 AM
  • News

    Bonus Watch ’12: Goldman Sachs, Morgan Stanley

    The bad news: if all goes according to plan, bonus numbers, which will be communicated over the next couple weeks, will have you weeping unconsolably at your desk, shrieking “No! Get away from me!” at worried colleagues approaching to offer comfort. The good news: assuming you don’t get fired for wiping said tears on Gary […]

    / Jan 9, 2012 at 8:58 AM
  • News

    Layoffs Watch ’12: Morgan Stanley

    The aforementioned cuts have begun at the House o’ Gorman.

    / Jan 6, 2012 at 11:10 AM
  • News

    Now That European Banks Have Money, Lots Of People Have Ideas For What They Should Do With It

    So Europe’s all better now, or something. The banks are anyway. They have had the money flung at them, in the form of the European Central Bank advancing them tons of medium-term funding at attractive rates and with pretty chill collateral requirements, and now they just have to sit back and be awesome. Since they’re […]

    / Dec 15, 2011 at 3:45 PM
  • News

    Layoffs Watch ’11/12: Morgan Stanley

    The House of Gorman is planning to free up some desk space next year.

    / Dec 15, 2011 at 9:48 AM
  • News

    John Mack Can Have His Artisanal Pigs-In-A-Blanket Sans Flak When Morgan Stanley’s Stock Price Hits Triple Digits

    …it was an after-party for Mack that now has both current and future Morgan Stanley executives fuming. That party, according to people who were invited, took place at the swanky Temple of Dendur in the Metropolitan Museum of Art in Manhattan. The Temple features ancient Egyptian art and artifacts, where people with big bucks can […]

    / Dec 12, 2011 at 4:43 PM
  • News

    John Mack: If I Wasn’t A Banker, I Would Have Been A Women’s Shoe Salesman

    As you may have heard, yesterday afternoon, Morgan Stanley held a little good-bye party for John Mack, who will step down as chairman at the end of the year. What are Mack’s plans for the retirement phase of his life? Will he sail around the world? Restore old cars? Work on his golf game? Take […]

    / Dec 8, 2011 at 10:59 AM
  • News

    James Gorman: This Isn’t The End. No Way. We’re Gonna Show This Market A Thing Or Two.

    “The stock price in no way reflects how well the firm is doing,” Gorman said last night at a private party for current and former Morgan Stanley executives. “We have a strategy in place, the market isn’t appreciating that yet.” [FBN]

    / Nov 30, 2011 at 4:33 PM
  • News

    Layoffs Watch ’11: Morgan Stanley

    Cuts occurring circa now, tomorrow.

    / Nov 16, 2011 at 12:47 PM
  • News

    High School Marching Band And Choir Of Thousands To Serenade Vikram Pandit Tomorrow Today

    Yes, it’s part of the Occupy Wall Street protest but still- his own personal marching band and choir! If I’m Vikram, I’m pretty psyched about this, especially considering all Brian Moynihan is getting are a bunch of paper airplanes.

    / Oct 27, 2011 at 3:56 PM
  • News

    Morgan Stanley Will Protect This House

    …from those hoping to occupy James Gorman’s domain.

    / Oct 27, 2011 at 11:43 AM
  • Banks

    Bonus Watch ’11: James Gorman Doesn’t Want To Talk About It

    In his tenure as CEO of Morgan Stanley, bonuses have been a bit of a sore spot for James Gorman. Last year he swore to god that he would “personally escort” anyone caught leaking numbers out of the building, earlier this month he was said to have suggested that things will be way, way down […]

    / Oct 19, 2011 at 11:38 AM
  • Banks, News

    Masterminds At Goldman Sachs May Have Found A Way To Avoid Parsing Through 19 Slide Flowchart

    You could, if you wanted to, divide the world into people who find parsing through the Volcker Rule draft creepily fascinating, and people who would rather not, thanks for offering. The first category, as far as I can tell, consists of (1) me, in small doses, and (2) a PowerPoint-enabled band of lawyers at Davis […]

    / Oct 12, 2011 at 2:26 PM

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