{"id":519758,"date":"2022-12-01T20:39:24","date_gmt":"2022-12-01T17:39:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/morgan-stanley-ceo-james-gorman-making-modest-job-cuts\/"},"modified":"2022-12-01T20:39:24","modified_gmt":"2022-12-01T17:39:24","slug":"morgan-stanley-ceo-james-gorman-making-modest-job-cuts","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/morgan-stanley-ceo-james-gorman-making-modest-job-cuts\/","title":{"rendered":"#Morgan Stanley CEO James Gorman making &#8216;modest&#8217; job cuts"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25787521c3e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25787521c3e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/morgan-stanley-ceo-james-gorman-making-modest-job-cuts\/#%E2%80%9CMorgan_Stanley_CEO_James_Gorman_making_%E2%80%98modest_job_cuts%E2%80%9D\" >&#8220;Morgan Stanley CEO James Gorman making &#8216;modest&#8217; job cuts&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CMorgan_Stanley_CEO_James_Gorman_making_%E2%80%98modest_job_cuts%E2%80%9D\"><\/span>&#8220;Morgan Stanley CEO James Gorman making &#8216;modest&#8217; job cuts&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/james-gorman.jpg?quality=90&amp;strip=all\" \/><\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Morgan\u00a0Stanley\u00a0is making modest job cuts across the globe, Chief Executive James Gorman said, as Wall Street comes under pressure with dealmaking slowing down.<\/p>\n<p>\u201cSome people are going to be let go,\u201d Gorman said\u00a0at the\u00a0Reuters NEXT conference, without specifying numbers. \u201cWe\u2019re making some modest cuts all over the globe. In most businesses, that\u2019s what you do after many years of growth.\u201d<\/p>\n<p>Corporations have postponed dealmaking and stock listings as red-hot inflation in the US continues at levels way above the Federal Reserve\u2019s 2% target. That has put pressure on investment banks, which earned billions of dollars in advisory fees amid unfettered market optimism last year.<\/p>\n<p>Speaking of Elon Musk, Gorman said he \u201cwouldn\u2019t bet against\u201d the billionaire Tesla\u00a0chief.<\/p>\n<p>\u201cHe\u2019s probably, along with Steve Jobs and Bill Gates and one or two others, the most interesting entrepreneur of last 50 years. Who would not want to do business with a person who has that kind of capability,\u201d Gorman added.\u00a0<\/p>\n<p>Morgan\u00a0Stanley\u00a0was among the banks providing $13 billion in financing for Musk\u2019s $44-billion acquisition of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>. <\/p>\n<p>Reuters\u00a0reported\u00a0in October that banks abandoned plans to sell the debt to investors because of uncertainty around the Twitter\u2019s fortunes and losses, citing people familiar with the matter. <\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>While Musk\u2019s management style has raised concerns among advocates of content moderation on one of the biggest social media platforms globally, he has also found support among C-suite executives.<\/p>\n<p>On Wednesday, Netflix\u00a0co-founder Reed Hastings\u00a0called\u00a0Musk \u201cthe bravest, most creative person on the planet.\u201d<\/p>\n<p>Gorman said\u00a0Morgan\u00a0Stanley\u00a0was targeting bringing in $1 trillion of new money every three years. He said the bank plans to boost client assets to $10 trillion, without specifying a timeframe for the target. Client assets, which include wealth and investment management businesses,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.morganstanley.com\/content\/dam\/msdotcom\/en\/about-us-ir\/shareholder\/10q0922.pdf\">were $5.4 trillion<\/a>\u00a0at the end of September.<\/p>\n<p>After taking the helm at the Wall Street giant in 2010, Gorman has transformed\u00a0Morgan\u00a0Stanley\u00a0into a more diversified firm less reliant on its traditional strengths \u2014 trading and investment banking.<\/p>\n<p>He struck major deals including the acquisitions of money manager Eaton Vance, online broker E*Trade, stock-plan manager Solium Capital and Smith Barney, a brokerage and investment adviser that became a cornerstone of the bank\u2019s wealth management arm.<\/p>\n<p>Wealth management accounted for 47% of\u00a0Morgan\u00a0Stanley\u2019s revenue in the third quarter, compared with 34% during his first quarter as chief executive.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/12\/01\/ceo-james-gorman-making-modest-job-cuts\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Morgan Stanley CEO James Gorman making &#8216;modest&#8217; job cuts&#8221; Morgan\u00a0Stanley\u00a0is making modest job cuts across the globe, Chief Executive James Gorman said, as Wall Street comes under pressure with dealmaking slowing down. \u201cSome people are going to be let go,\u201d Gorman said\u00a0at the\u00a0Reuters NEXT conference, without specifying numbers. \u201cWe\u2019re making some modest cuts all over&#8230;<\/p>\n","protected":false},"author":1,"featured_media":519759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/james-gorman.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[136509,71939,39394,73985,4960,73986,70360],"class_list":["post-519758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-1-22","tag-banks","tag-elon-musk","tag-james-gorman","tag-layoffs","tag-morgan-stanley","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/519758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=519758"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/519758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/519759"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=519758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=519758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=519758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}