Blue Horseshoe Loves A New Job at Morgan Stanley

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John Mack's hiring problems just got worse, but this time not on the advisory side. James Gorman, the new head of Global Wealth Management (or as we prefer to call it, "retail") has been barred from hiring away his former underlings at Merrill. The case seems to hinge on who called who and in which direction the soliciting occurred. Did Gorman call them or did they call Gorman and beg him to take them with him? Regardless, it begs the question:
Whatever happened to old-fashioned subtle obfuscation? In the good ol' days, there would have been no formal soliciting whatsoever. The Merrill employees would just telepathically show up one day at MS ready for work and there would be no paper trail, no phone logs, no nothing. Has Wall Street lost its touch?

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