James P. Gorman

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James Gorman

James Patrick Gorman

(1958-07-14) 14 July 1958 (age 64)
EducationUniversity of Melbourne (BA, LLB)
Columbia University (MBA)
TitleChairman and CEO of Morgan Stanley

James Patrick Gorman[1] AO (born 14 July 1958) is an Australian-American financier who is the chairman and chief executive officer of Morgan Stanley.[2] He was formerly Co-President and Co-Head of Strategic Planning at the firm.[3][4]

Early life[edit]

James P. Gorman was born in Melbourne, Australia. He is one of 10 children.[5] He was educated at Xavier College, and earned his Bachelor of Arts and Bachelor of Laws from the University of Melbourne, where he was a residential member and president of Newman College.[6]


In 1982 he joined law firm Phillips Fox and Masel (now DLA Piper) before heading to the United States to obtain a Master of Business Administration from Columbia Business School.[7][8]

After graduating Columbia, he joined McKinsey & Company and eventually became a senior partner. At McKinsey he worked on the Merrill Lynch account for ten years, and helped develop Merrill's online internet strategy. In 1999, he joined Merrill Lynch in the newly created role of chief marketing officer. He also joined the 19-member executive management committee.[9] Within two years, he was in charge of Merrill's brokerage business.[10]

Gorman left Merrill in February 2006 to join Morgan Stanley as the President and Chief Operating Officer of the Global Wealth Management Group (GWMG). In October 2007, Gorman took on the additional role of Co-Head of Strategic Planning with Chief Financial Officer Colm Kelleher. In December 2007, he was named Co-President of Morgan Stanley, along with Walid Chammah,[11] with the day-to-day responsibility for Wealth Management and Asset Management.

In 2009, he helped create the largest wealth management platform globally when he led the merger and integration of Morgan Stanley's wealth management business with Citi's Smith Barney business. Structured as a staggered acquisition, Morgan Stanley purchased the remainder of the joint venture in June 2013, and is a global leader in wealth management with over 16,000 financial advisors and $1.8 trillion in client assets.[12]

In September 2009, it was announced he would become CEO of Morgan Stanley in January 2010.[13] He also assumed the title of Chairman in January 2012 following the retirement of John J. Mack.[14] Press reports indicate his compensation as Chairman and CEO was $9.75 million for 2012,[15] with the New York Times reporting an increase to $18 million in 2013.[16]

In 2014 he was included in the 50 Most Influential ranking of Bloomberg Markets Magazine.[17]

In the wake of the 2016 United Kingdom European Union membership referendum, which led to a popular vote to leave the European Union, Gorman said there was "nothing good about Brexit".[18] He added that some jobs would be moved not only out of England, but out of Europe entirely, possibly to New York City or Tokyo.[18]

In January 2020, he was appointed an Officer of the Order of Australia (AO)[19] that recognizes Australians who have demonstrated outstanding service or exceptional achievement. Gorman said he was "honoured to receive this award and extremely proud to represent Australia abroad." "While most of my working life has been in the US my heart remains firmly Australian," Mr Gorman said.[20]

As a result of his work in 2020, James Gorman was paid a 22% raise ($6 million) from 2019 pay of $27 million by Morgan Stanley,[21] making him the highest-paid bank executive in America.[22] The Wall Street firm generated record revenue that year and announced two multibillion-dollar acquisitions of E*trade Financial Corp. and Eaton Vance Corp. and avoided much of the economic recession caused by the pandemic.[23]

Board memberships[edit]

Gorman serves as a Director of the Council on Foreign Relations, and Chair of the Board of Overseers of the Columbia Business School, and is a member of the Financial Services Forum,[24] Business Council and the Business Roundtable.[25] He formerly served as a Director of the Federal Reserve Bank of New York, President of the Federal Advisory Council to the U.S. Federal Reserve Board,[26] Co-Chairman of the Partnership for New York City,[27] Co-Chairman the Business Committee of the Metropolitan Museum of Art[28] and served on the board and as Chairman (2006) of the Securities Industry and Financial Markets Association in Washington, D.C.[29]

Personal life[edit]

Gorman is a dual citizen of Australia and the United States and lives in Manhattan. He has two adult children. Gorman earned $27 million in 2019.[30]


  1. ^ "James Patrick Gorman: Executive Profile & Biography". Bloomberg.
  2. ^ "Board of Directors". Morgan Stanley. Retrieved 2021-01-23.
  3. ^ [1] Archived 2014-09-14 at the Wayback Machine, November 29, 2007; accessed December 1, 2007. "Press Release: Walid Chammah and James Gorman Named Co-Presidents of Morgan Stanley".
  4. ^ "The David Rubenstein Show: James Gorman". Bloomberg. 2017-04-12. Retrieved 2017-07-15.
  5. ^ Schwartz, Nelson D. (28 June 2014). "James Gorman of Morgan Stanley, Going Against Type". The New York Times.
  6. ^ Parker, Garrett (2018-09-03). "10 Things You Didn't Know About Morgan Stanley CEO James Gorman". Money Inc. Retrieved 2021-01-23.
  7. ^ The Age (2009). Melbourne-raised Gorman new chief of Morgan Stanley; retrieved September 13, 2009.
  8. ^ "New master of the universe: a straight-talking 'native of Australia'". The Australian. September 12, 2009.
  9. ^ Randall, Smith (7 July 1999). "Merrill Names McKinsey Partner To New Post of Marketing Chief". The Wall Street Journal.
  10. ^ Schwartz, Nelson (28 June 2014). "James Gorman of Morgan Stanley, Going Against Type". The New York Times.
  11. ^ "Walid Chammah and James Gorman Named Co-Presidents of Morgan Stanley". Morgan Stanley. Archived from the original on 2014-09-14. Retrieved 2007-12-01.
  12. ^ "Morgan Stanley Completes Purchase of Smith Barney Venture". Bloomberg.
  13. ^ "Morgan Stanley Announces CEO Succession Plan". Morganstanley.com. 2009-09-10. Retrieved 2017-07-15.
  14. ^ "Morgan Stanley Announces Leadership Transition". Morganstanley.com. 2011-09-15. Archived from the original on 2014-03-28. Retrieved 2017-07-15.
  15. ^ "Gorman Gets $3.75 Million Incentive as CEO's Pay Falls 7% - Businessw…". 7 November 2013. Archived from the original on 7 November 2013.
  16. ^ "Morgan Stanley Nearly Doubles C.E.O. Pay to $18 Million". The New York Times. Retrieved 2014-11-28.
  17. ^ "Most Influential 50 Are the Bankers, Investors Who Move Markets". Bloomberg. Archived from the original on 2014-11-01. Retrieved 2014-10-31.
  18. ^ a b Crowe, Portia; Turner, Matt (October 25, 2016). "MORGAN STANLEY CEO: 'There's nothing good about Brexit'". Business Insider. Retrieved October 30, 2016.
  19. ^ "Mr James Gorman". It's An Honour. Retrieved 2021-05-19.{{cite web}}: CS1 maint: url-status (link)
  20. ^ "Top bankers among Australia Day honourees". 25 January 2020.{{cite web}}: CS1 maint: url-status (link)
  21. ^ "Morgan Stanley CEO Gorman's annual pay rises by $6 million". 22 January 2021.{{cite web}}: CS1 maint: url-status (link)
  22. ^ "Morgan Stanley CEO James Gorman is now the highest-paid bank executive in America following a 22% raise amid a record year for the company".{{cite web}}: CS1 maint: url-status (link)
  23. ^ Rudegeair, Peter (2021-01-22). "Morgan Stanley CEO James Gorman Got a Big Raise for 2020". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-01-23.
  25. ^ "Morgan Stanley Board of Directors".
  26. ^ "Federal Reserve: Meeting of the Board of Governors and the Federal Advisory Council February 6,2015" (PDF).
  28. ^ Schwartz, Nelson D. (28 June 2014). "NYT: James Gorman of Morgan Stanley, Going Against Type". The New York Times.
  29. ^ "American Banker: Morgan Stanley CEO: We'll Buy Rest of Smith Barney's Assets". 8 November 2010.
  30. ^ "Morgan Stanley CEO Gorman's total 2019 pay falls 7% to $27 million". Reuters. 17 January 2020.{{cite news}}: CS1 maint: url-status (link)
Business positions
Preceded by Chairman and CEO of Morgan Stanley
Succeeded by