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.
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
Reshuffle provides strong indication of where the regulator's priorities now lie.
Goldman Sachs Asset Management report reveals sharpened focus on annuities.
Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.
Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
