Morgan Stanley chief says staff paid competitively

Morgan Stanley CEO James Gorman said the firm is paying staff 'competitively' after managers turned the business around over the past five years.

Gorman, speaking in an interview in Singapore today with Bloomberg Television’s John Dawson, cited four or five years of growth 'and profitability continuously improving'.

'We have a tremendous management team', said Gorman, 56. 'I think they’ve been killing themselves for five years turning this thing around and it’s worked. And, God bless them, they deserve all that comes from that success'.

Bloomberg also reports that Gorman hailed the firm’s relationship with Mitsubishi UFJ Financial Group, its biggest shareholder and business partner.

'It’s terrific', Gorman said in the interview. 'These executives at MUFG, they’re good friends of ours, great partners, and we’re exploring ways where we can bring our combined balance sheets to help our clients around the world'.

Morgan Stanley Pays ‘Competitively’ After Turning Corner

Gorman Hails Morgan Stanley’s Ties With Mitsubishi UFJ

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