Unlike Goldman Sachs, which this year reinstated its Caligulan bonus rituals, Morgan Stanley is expected to cut bonuses by as much as 30 percent this year, because, according to the Post, while CEO James Gorman “wants to retain top talent at the firm, he also has a responsibility to shareholders of the investment bank that celebrated its 75th anniversary back in September after hanging on life support two years ago during the heart of the financial crisis.” Bad news for executives, but not terrible press. And CEO James Gorman is apparently so eager to let news of his respectable decision get out there, he made employees the following offer at a meeting this week:
Gorman raised some eyebrows during a routine conference this week when he threatened to “personally escort” [out] anyone found leaking any details of the firm’s compensation levels to the media.
Ooh, fun! Where do you think he’ll take them? The guy who leaked this item to the Post is hoping Per Se.
Morgan Stanley CEO: I will escort out any bonu$ leakers [NYP]
Ooh, fun! Where do you think he’ll take them? The guy who leaked this item to the Post is hoping Per Se.
Morgan Stanley CEO: I will escort out any bonu$ leakers [NYP]
