James P. Gorman
|James P. Gorman|
July 14, 1958 |
|Alma mater||University of Melbourne (BA, LLB)
Columbia Business School (MBA)
|Title||Chairman & CEO of
James P. Gorman was born in Australia. 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.
In 1982 he joined law firm Phillips Fox and Masel (now DLA Phillips Fox) before heading to the United States to obtain a Master of Business Administration from Columbia Business School. While at Columbia he was a resident at International House of New York.
James P. Gorman joined Morgan Stanley in February 2006 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, with the day-to-day responsibility for Wealth Management and Asset Management. In September 2009, it was announced he would become CEO of Morgan Stanley in January 2010. He also assumed the title of Chairman in January 2012 following the retirement of John J. Mack. Press reports indicate his compensation as Chairman and CEO was $9.75 million for 2012, with the New York Times reporting an increase to $18 million in 2013.
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.
Prior to joining Morgan Stanley in February 2006, Gorman held a succession of executive positions at Merrill Lynch, including leading from 2001 to 2005 the company’s U.S. and, subsequently, global private client businesses. He joined Merrill Lynch in 1999 as Chief Marketing Officer, and also served as head of Strategy and Research. Before joining Merrill Lynch, Gorman served as a senior partner of McKinsey & Company, where he was a member of the financial services practice, and as an attorney in Melbourne.
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". 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.
Among his civic activities, Gorman serves on the Federal Advisory Council to the U.S. Federal Reserve Board, the Board of Overseers of the Columbia Business School, the Monetary Authority of Singapore International Advisory Panel, the Financial Services Forum, the Boards of the Partnership for New York City, and the Institute of International Finance. He formerly co-chaired the Business Committee of the Metropolitan Museum of Art and served on the board and as Chairman (2006) of the Securities Industry and Financial Markets Association in Washington, D.C..
- , November 29, 2007. Accessed December 1, 2007. "Press Release: Walid Chammah and James Gorman Named Co-Presidents of Morgan Stanley"
- The Age (2009). Melbourne-raised Gorman new chief of Morgan Stanley. Retrieved 13 September 2009.
- "New master of the universe: a straight-talking 'native of Australia'". The Australian. 12 September 2009.
- http://www.morganstanley.com/about/press/articles/5851.html Morgan Stanley press release, Nov 29, 2007
- "Morgan Stanley Nearly Doubles C.E.O. Pay to $18 Million". The New York Times. Retrieved 2014-11-28.
- "Morgan Stanley Completes Purchase of Smith Barney Venture". Bloomberg.
- "Most Influential 50 Are the Bankers, Investors Who Move Markets". Bloomberg. Retrieved 2014-10-31.
- Crowe, Portia; Turner, Matt (October 25, 2016). "MORGAN STANLEY CEO: 'There's nothing good about Brexit'". Business Insider. Retrieved October 30, 2016.
- "James Gorman of Morgan Stanley, Going Against Type". The New York Times. Retrieved 2014-11-28.
- "Wall Street Titans & Their Warbling Daughters". Billboard. Retrieved 13 July 2015.
John J. Mack
|Chairman and CEO of Morgan Stanley