Morgan Stanley to hire several hundred traders over next few years

Discussion in 'Wall St. News' started by ASusilovic, Feb 1, 2010.

  1. Morgan Stanley plans to boost its underperforming securities business by hiring several hundred traders over the next few years, according to James Gorman, the new chief executive. Gorman, who took over as CEO from John Mack in January, told the FT that Morgan Stanley should “seriously grow” its business in areas such as equity derivatives and commodities, and could “easily be 25% bigger than we are”.
  2. Traders at GS, Citadel, SAC, et al are being "bombarded" by headhunters right now. :cool:
  3. Obama's plans shouldn't make them big "fans" of equity derivatives desk players...
  4. Gorman, good god. And he hired Greg Flaming (former president of ML) to run the IM business for Morgan a month or two ago.

    I have had my own run ins with Gorman a slightly different life ago, while he may appear to be smart / polished on the outside, he make terrible decisions. He was a McKinsey partner, obviously bright, but really doesn't know the nuts and bolts of the business. When Mack named him as his successor, I thought to myself, "how is he going to screw up MS?"

    Only time will tell I guess.
  5. Note to self: Fade MS in the future.
  6. That would make him a "bull market hero". Newborn baby kittens could do what he does, just as well. :(
  7. Suss, if MS buys your "shop", they'll immediately achieve their 25% growth goal! :D
  8. ha. to do what. Whats moving right now? nothing.
  9. The idea is to get bodies moving from other "successful" firms to MS. Headhunters aren't yanking people out of the soybean pit nor out of the audience at a Robert Kiyosaki seminar to trade at MS. :)
  10. maybe they should, instead of hiring a bunch of retards from the U of C business school who will without a dbout blow up the firm.

    this whole system is functioning because people believe the government can prevent all fat tails from happening and gurantee the future.

    Does people really think that the government can now prevent all failures and other crisis?
    #10     Feb 1, 2010