It's not as exciting as Partner Day at Goldman Sachs, where in the basement of 200 West, blind-folded and naked, everyone pricks their finger, rubs the blood together, and pledges their devotion to the firm and its huge-ass profits, or even MD-MS day of years past, which included a pat on the ass and John Mack's southern drawl, but it's something. [Deal Journal via FINS]
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.
The House of Gorman will be saying good-bye to a few thousand Little Jims before year-end. Chairman and Chief Executive James Gorman said the firm's work force at year-end will fall 7% from 2011, reflecting previously announced layoffs as well as the firm's efforts in applying "a high bar for replacing attrition." The forecast implies a reduction of more than 4,000 jobs from the firm's global headcount of 61,899 at Dec. 31. Last winter, Morgan Stanley announced 1,600 job cuts spread across its businesses, which was its largest such cutback since late 2008 and early 2009. The firm completed roughly 4% to 5% of those cuts in January and will complete an additional 2% to 3% by the end of 2012, a spokeswoman said. Morgan Stanley Expects 7& Cut In Its Workforce [WSJ]
