Morgan Stanley reviewing work-life balance for junior bankers

Hard Hat In Office Tray

Morgan Stanley is reviewing its work policies related to junior bankers as rivals have pushed some employees to take weekend days off, CEO James Gorman said.

'People should pursue a career because they’re passionate about it, and obviously the hours have to be reasonable so they can have a balanced lifestyle', Gorman, 55, said in a Bloomberg Television interview with Erik Schatzker and Stephanie Ruhle at the World Economic Forum in Davos, Switzerland.

'Otherwise, they become very uninteresting advisers to companies because they bring a very narrow perspective'.

Investment banks including Goldman Sachs and Credit Suisse Group have recommended junior bankers stay away from the office on certain weekend days as firms seek to improve working conditions. Gorman said his firm might not follow the same track.

'I’m not sure that’s the right answer because I’m not sure how you stop work if there’s a deal on', Gorman said. 'It’s more common sense, it’s more upward feedback and evaluation. If we have individuals who are not managing the young folks properly, we need to deal with that'.

Hit the link below to access the complete Bloomberg article:

Gorman Says Firm Reviewing Work-Life Balance of Junior Bankers

Gorman: Better Year for Fixed Income, Commodities

 

images: © Wayne Wilkinson, © stephen jones

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