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’James Gorman recommends some light reading
Today in cognitive dissonance, with a hat tip to the gang at Deal Journal:
October 3, 2011 To: All Employees From: James Gorman Subject: A Message from James Gorman
Over the past few weeks, there has been an enormous amount of confusion and misinformation about Morgan Stanley and others in our peer group.
Bonus neurosis, revisited: Mine’s bigger than yours
After all the hoohah and wild reports about $100m pay-outs, Goldman Sachs on Friday made a big move against the backlash over its compensation practices, saying it would award chief executive Lloyd Blankfein a mere $9m stock bonus for 2009,
Morgan Stanley sets reshuffle
James Gorman, who will succeed John Mack as chief executive of Morgan Stanley next month, on Tuesday unveiled management changes that reflect the bank’s push to close the gap with its arch-rival, Goldman Sachs.
Gorman starts Morgan Stanley reshuffle
Morgan Stanley’s James Gorman, who will succeed John Mack next month as the bank’s chief executive, is close to unveiling management changes that include shifting the bank’s finance chief to co-head its flagship securities business.
Morgan Stanley ousts Cruz
Zoe Cruz, the most senior woman on Wall Street, on Thursday became the latest high-profile casualty of the US subprime mortgage meltdown when she lost her job as co-president of Morgan Stanley. The ousting came three weeks after Morgan Stanley revealed it had lost more than $3.7bn on a disastrous subprime mortgage bet.