Morgan Stanley MD Releases Gospel Album


"It's original gospel and it's hot," says singer/songwriter/i-banker Carla Harris.

Carla Harris, a 23-year Morgan Stanley veteran in bank's investment management arm, where she advises companies and public pension managers on their portfolios, has just released her third full-length gospel album on iTunes. Harris started singing as a child in Jacksonville, Fla. She sang her way through Harvard and Harvard Business School and stuck with it as she started her career an analyst at Morgan Stanley.

She sang in New York churches and clubs -- even Carnegie Hall. In fact, Harris occasionally croons for her clients. "I try to graciously decline, but if I'm pressed, I'll do it," she said. "I bring Carla the singer wherever Carla the banker goes."

Praise Be: Morgan Stanley MD Goes Gospel [FINS]


Layoffs Watch '12: Morgan Stanley

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]

Layoffs Watch '12: Morgan Stanley

The House of Gorman is said to be in the process of letting some employees down easy. Morgan Stanley will this week complete a round of job cuts that will ultimately lead to the company shedding 100 sales and trading staff, underscoring what is expected to prove a dismal second quarter for Wall Street banks. The cuts are across Europe, the Middle East and Asia, according to people familiar with the New York-based bank’s plans. The bank has so far laid off about two-thirds of its original 100-person target, leaving some 33 people to go this week. Morgan Stanle Said To Shed Staff As Deals Fall [FT]