New York's Hottest New Club Is Gorman

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This place has everything: 22 year-olds willing to work 100 hours/week, an exclusive location next to the Times Square M and M's store, the attention of a Fox Business reporter who obsessively tracks the size of the CEO's balls, a regular who looks like a zombie, $20/night Seamless allowance, 24 year-olds who don't give a FUCK, and a bouncer who'll throw you out for calling him Jim.

Morgan Stanley, owner of the world’s largest brokerage, received about 90,000 applications for its summer program for analysts and associates. More than 1,000 people, or roughly 80 percent who received offers, accepted a spot and began working in the past few weeks, Chief Executive Officer James Gorman, 55, said today in a memo to employees. Mary Claire Delaney, a spokeswoman for the New York-based bank, confirmed the contents of the memo. Wall Street firms have been touting the selectivity of their programs for recruiting junior talent to counter worries that they’re less attractive employers in the wake of the financial crisis. The acceptance rate of less than 2 percent is lower than Harvard College’s 5.9 percent for the coming year’s freshman class.

It's unclear where the applicants who turned Gorman down are headed, but Club Lloyd seems like a pretty good guess.

Morgan Stanley Gets 90,000 Summer-Program Applications [Bloomberg]

Related

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.