The private wealth management group at Morgan Stanley will throw its holiday party Wednesday night at The Gates, the exclusive Chelsea nightclub built in the space that was once the Biltmore Room.
This is one of Wall Street’s more famous parties. The Morgan Stanley private wealth management group knows how to have a good time and traditionally tries to have its party in whatever space is the club of the moment. Last year it was held in Tenjune.
The marble walls alone at The Gates are said to have been valued at $2.4 million. Drinks ordinarily cost around $16 a piece. But, of course, the Morgan Stanley PWM folks will be drinking on on their bosses tonight.
The party is being paid for by about 50 senior people out of their own pockets. The idea is to let junior staffers “attend at no cost,” James Wiggins at Morgan Stanley told us. There are no firm funded holiday party at Morgan Stanley this year.
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