Morgan Stanley Chief Executive James Gorman suggested job cuts might be coming as senior executives assess head count at the Wall Street firm.
“You’ve got to take into account the rate of growth we’ve had in the last few years,” Gorman said Friday in a conference call with analysts after his bank reported its third-quarter results. “We’ve learned some things during Covid about how we can operate more efficiently. So that’s something the management team is working on between now and the end of the year.”
The balance of power in the job market, which had favored employees since the start of the pandemic, has begun to shift as Covid-19 cases continue to abate and financial markets slump.
Wall Street firms are stepping up pressure on workers to return to the office, and a growing number of banks are signaling plans to reinstate periodic job cuts.
Last month, Goldman Sachs Group Inc. CEO David Solomon resumed the firm’s practice of periodically culling underperformers to make way for fresh talent.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
