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James Gorman

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BUSINESS
December 9, 2008 | Times Wire Services
Morgan Stanley Chief Executive John J. Mack is giving up a bonus for the second straight year as Wall Street struggles through one of the most severe crises in its history. Mack told employees that he and the firm's two presidents, James Gorman and Walid Chammah, informed the board's compensation committee of their decision to forgo 2008 bonuses, and the committee accepted. Mack said the company was changing year-end compensation for other employees too.
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BUSINESS
April 5, 2012 | By Walter Hamilton
This is what passes for hard times in the executive suites of Wall Street - the compensation of Morgan Stanley's top executive fell to $13 million. The 2011 pay package of James Gorman, chief executive of the New York investment bank, decreased almost 15% from the $15.2 million he hauled in the previous year, according to a filing with the Securities and Exchange Commission on Thursday. His compensation included $800,000 in salary, a $2.7 million bonus, $5.9 million in stock awards and $3.5 million in stock options.
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BUSINESS
September 11, 2009 | Times Wire Reports
John J. Mack will step down as chief executive of Morgan Stanley in January but remain chairman. He navigated the bank through the height of the financial crisis last year. Mack, 64, will be succeeded by James Gorman, the head of Morgan Stanley's wealth management business, the bank said. Gorman, 51, was one of the first executives Mack hired when he returned to the firm in 2005. Gorman has been co-president of Morgan Stanley for two years and was a key player in the firm's retail brokerage Morgan Stanley Smith Barney.
BUSINESS
May 29, 2010 | Reuters
Morgan Stanley Chairman John Mack, who has said Wall Street's high pay packages show that the industry is out of touch with mainstream America, is receiving a 150% base salary increase to $2 million. Mack, who declined to accept a bonus the last three years, received a base salary of $800,000 in 2009. In 2006, the last year he received a bonus, he was awarded restricted shares that were worth $36.2 million at the time. The salary increase, which was revealed in a regulatory filing, was meant to pay Mack "in line with his new role" as chairman, Morgan Stanley said.
BUSINESS
August 17, 2005 | From Bloomberg News
Morgan Stanley, the world's largest securities firm, on Tuesday named Merrill Lynch & Co.'s James Gorman to run its retail brokerage, a business whose slumping profit spurred the firm to begin cutting 1,000 jobs earlier this month. Gorman, 47, starts in February, replacing John Schaefer, 53, who will leave Morgan Stanley by the end of the year. Gorman will join Morgan Stanley's management committee and report to acting President Zoe Cruz, the firm said.
BUSINESS
April 5, 2012 | By Walter Hamilton
This is what passes for hard times in the executive suites of Wall Street - the compensation of Morgan Stanley's top executive fell to $13 million. The 2011 pay package of James Gorman, chief executive of the New York investment bank, decreased almost 15% from the $15.2 million he hauled in the previous year, according to a filing with the Securities and Exchange Commission on Thursday. His compensation included $800,000 in salary, a $2.7 million bonus, $5.9 million in stock awards and $3.5 million in stock options.
BUSINESS
May 29, 2010 | Reuters
Morgan Stanley Chairman John Mack, who has said Wall Street's high pay packages show that the industry is out of touch with mainstream America, is receiving a 150% base salary increase to $2 million. Mack, who declined to accept a bonus the last three years, received a base salary of $800,000 in 2009. In 2006, the last year he received a bonus, he was awarded restricted shares that were worth $36.2 million at the time. The salary increase, which was revealed in a regulatory filing, was meant to pay Mack "in line with his new role" as chairman, Morgan Stanley said.
BOOKS
April 16, 1989
PRELUDE TO FOUNDATION by Isaac Asimov (Spectra: $4.95). Mathematician Hari Seldon is unaware that this predictive theory of psychohistory is being furtively sought by Trantor's rulers. TAPESTRY by Belva Plain (Dell: $4.95). A banking scion is driven to seek solace with another woman when he is unable to resolve his ambivalence between his barren wife and a peasant girl. THE DEATH OF METHUSELAH AND OTHER STORIES by Isaac Bashevis Singer (Plume: $8.95). Ten short stories from this Pulitzer and Nobel Prize winner.
BOOKS
April 22, 1990 | CHARLES SOLOMON
In this unpretentious, first-person account, John Horner describes his discoveries of some of the first fossilized dinosaur eggs, embryos and nests in North America, and offers his theories about dinosaur parental behavior. The arrangement of the nests, the size of the juvenile skeletons and the partially worn surfaces of the hatchlings' teeth suggest that adult maiasaurs ("good-mother lizards") protected and nurtured their young much the way some modern birds do.
BOOKS
May 1, 1988 | Lee Dembart
It isn't often I get a book that makes me laugh. Gorman tells us "that the purpose of science is to provide us with something to talk about when art and poetry and music lose their appeal."
BUSINESS
September 11, 2009 | Times Wire Reports
John J. Mack will step down as chief executive of Morgan Stanley in January but remain chairman. He navigated the bank through the height of the financial crisis last year. Mack, 64, will be succeeded by James Gorman, the head of Morgan Stanley's wealth management business, the bank said. Gorman, 51, was one of the first executives Mack hired when he returned to the firm in 2005. Gorman has been co-president of Morgan Stanley for two years and was a key player in the firm's retail brokerage Morgan Stanley Smith Barney.
BUSINESS
December 9, 2008 | Times Wire Services
Morgan Stanley Chief Executive John J. Mack is giving up a bonus for the second straight year as Wall Street struggles through one of the most severe crises in its history. Mack told employees that he and the firm's two presidents, James Gorman and Walid Chammah, informed the board's compensation committee of their decision to forgo 2008 bonuses, and the committee accepted. Mack said the company was changing year-end compensation for other employees too.
BUSINESS
August 17, 2005 | From Bloomberg News
Morgan Stanley, the world's largest securities firm, on Tuesday named Merrill Lynch & Co.'s James Gorman to run its retail brokerage, a business whose slumping profit spurred the firm to begin cutting 1,000 jobs earlier this month. Gorman, 47, starts in February, replacing John Schaefer, 53, who will leave Morgan Stanley by the end of the year. Gorman will join Morgan Stanley's management committee and report to acting President Zoe Cruz, the firm said.
BUSINESS
December 31, 1990 | Michael Flagg, Times staff writer
James J. Gorman used to be a real estate executive before joining the executive search firm Korn/Ferry International two years ago. Now he specializes in rounding up executives for Southern California's large real estate industry. The problem is, the industry doesn't need all that many executives these days. Or any other types of employees, for that matter.
BOOKS
April 22, 1990 | CHARLES SOLOMON
In this unpretentious, first-person account, John Horner describes his discoveries of some of the first fossilized dinosaur eggs, embryos and nests in North America, and offers his theories about dinosaur parental behavior. The arrangement of the nests, the size of the juvenile skeletons and the partially worn surfaces of the hatchlings' teeth suggest that adult maiasaurs ("good-mother lizards") protected and nurtured their young much the way some modern birds do.
BOOKS
April 16, 1989
PRELUDE TO FOUNDATION by Isaac Asimov (Spectra: $4.95). Mathematician Hari Seldon is unaware that this predictive theory of psychohistory is being furtively sought by Trantor's rulers. TAPESTRY by Belva Plain (Dell: $4.95). A banking scion is driven to seek solace with another woman when he is unable to resolve his ambivalence between his barren wife and a peasant girl. THE DEATH OF METHUSELAH AND OTHER STORIES by Isaac Bashevis Singer (Plume: $8.95). Ten short stories from this Pulitzer and Nobel Prize winner.
BUSINESS
December 31, 1990 | Michael Flagg, Times staff writer
James J. Gorman used to be a real estate executive before joining the executive search firm Korn/Ferry International two years ago. Now he specializes in rounding up executives for Southern California's large real estate industry. The problem is, the industry doesn't need all that many executives these days. Or any other types of employees, for that matter.
BUSINESS
December 13, 2011 | Reuters
Morgan Stanley agreed to give up insurance claims against MBIA Inc. in exchange for a $1.1-billion payment from the ailing insurer, ending a two-year legal fight over guarantees on mortgage bonds. The deal, announced Tuesday, is the latest move by Morgan Stanley Chief Executive James Gorman to clear away vestiges of the financial crisis and put the Wall Street bank on a more stable path. The settlement will cause Morgan Stanley to take a $1.2-billion charge in the fourth quarter after accounting for a tax benefit, but it will also remove risky assets from the company's balance sheet that have led to big swings in its quarterly earnings the past four years.
BOOKS
May 1, 1988 | Lee Dembart
It isn't often I get a book that makes me laugh. Gorman tells us "that the purpose of science is to provide us with something to talk about when art and poetry and music lose their appeal."
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