Word: gorman
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...response to last week’s disputed election results, 2013-ers Jeanine Sinanan-Singh, Izzy Link-Levy, Felix de Rosen, Richard Huang, Billy Gorman, and Benjamin Cohen issued a statement establishing the Weld Thirty-Four (WTF) Republic and encouraging “all to throw off the chains of oppression and join us in our crusade for justice.” This call to arms comes with a new agenda and a new vision for all of Harvard University...
...conservative base. (It's also, incidentally, about money; according to the Federal Election Commission, more than $650,000 has flowed to the candidates from independent groups just since Oct. 24.) "The 23rd has as little significance as Gettysburg. It's just where the armies met," says Bob Gorman, managing editor of the Daily Times and my old boss. "Everybody was looking for a fight, and that's where they found each other...
...aftermath have dramatically changed investor perceptions, particularly with respect to the soundness of our financial system. In response, big financial firms are changing, but few firms have changed more than Morgan Stanley. The latest sign of Morgan's transformation came two weeks ago when the firm announced that James Gorman would replace Mack in January. Unlike Mack, and nearly every other head of Morgan Stanley, Gorman has never been an investment banker. Gorman, a former McKinsey consultant, joined Morgan three years ago from Merrill Lynch, where he had run that firm's brokerage force. At Morgan, he was in charge...
...When Gorman was named CEO that was a defining moment in Morgan's history," says Charles Geisst, a Wall Street historian and author of the book Collateral Damaged. "The large brokerage force is going to change Morgan. People begin to see you more as a distribution business than in the investment-banking business...
...Gorman has said that while the firm will shut down part of its trading desk it has no plans to fully exit the investment-banking business. It still plans to advise clients on mergers and manage stock and bond offerings, as well as complete trades for others. Gorman recently told employees at a town-hall-type meeting, "The heart, the DNA - the fabric of this place - has always been the institutional securities [investment banking] business and, frankly, should always be ... That's our roots." (See 25 people to blame for the financial crisis...