Morgan Stanley CEO James Gorman has called on the investment bank’s employees to pressure U.S. lawmakers into reaching an agreement that averts the so-called fiscal cliff.
‘No issue is more critical right now for the U.S. economy, the global financial markets and the financial well-being of our clients, which is why I am asking you to participate in the democratic process and make your voice heard’, Gorman wrote in a memo, a copy of which was obtained by Bloomberg News. The message went to about 30,000 U.S. workers including 16,000 financial advisers, said James Wiggins, a company spokesman.
Bloomberg reports that Gorman, 54, joins a roster of Wall Street leaders including JPMorgan Chase CEO Jamie Dimon in calling on politicians to reach a deal that avoids $607bn in automatic tax increases and spending cuts due to take effect in January. Goldman Sachs CEO Lloyd C. Blankfein is among more than a dozen corporate leaders set to visit the White House Wednesday as President Barack Obama seeks support for his proposals.
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