World champion rower Michael Blomquist valued the chance for an Olympics gold medal in London more than an analyst job at Morgan Stanley. He said the decision wasn’t easy. “It’s always going to be a difficult proposition to walk away from good money and from something that is comfortable and straightforward,” Blomquist said. “I’m loving every day, but of course sometimes I do feel like I made a terrible decision. I walked away at a point where I felt like I was on an upward track at work.” The 30-year-old -- who won a world title with the U.S. men’s eight in Japan in 2005 -- quit his analyst job with Morgan Stanley in 2010 to try to get into the U.S. boat for the Olympic Games in London, which start July 27...Blomquist is based in Oakland, California. He’s covering his living costs out of his savings, passing up the chance to be earning 69,850 pounds ($112,000), the average salary of a London-based analyst with two to four years of experience, according to recruitment agency Reed Global. He declined to give his salary at the bank. [Bloomberg]
Morgan Stanley’s Gorman: What Investigation?
James Gorman, aka “Jimmy G,” is sick and tired of all these reporters suggesting his firm is under some kind of investigation by the Feds. Just because Goldman has been charged by the SEC, doesn’t mean Morgan Stanley, which lost a lot more money than GS during the crisis, also bet against its own shitty CDO deals. All the noise surely points to a conspiracy of short-sellers. We know who you are. Now go back to watching Miss USA pole dancing.
Bonus Watch '13: Morgan Stanley CEOs
The bad news: James Gorman's pay fell 30 percent this year. The good news: he's now in a position to show employees how to take these setbacks like a man, rather than grumbling like someone who puts their compensation in a one-year context to define their overall level of happiness.