Quirky Tidbits And Facts About The Life Of Morgan Stanley CEO James Gorman

james gorman

Who is Morgan Stanley’s CEO James Gorman really?

We know that Gorman, who is just entering his third year as CEO, rarely goes in front of the cameras.

But this month he’s the feature story in Bloomberg Markets magazine and he’s definitely not your typical Wall Street CEO. 

In fact, we learned some pretty quirky details about his life from his eating habits, to his childhood, his hobbies and what he likes to wear. 

You may have noticed that Gorman has an accent.

That's because Gorman, 53, is an Australian native.

Source: Bloomberg Markets

He also has a lot of siblings.

Gorman is the sixth out of 10 children.

Fun fact: His sister is a judge on the Supreme Court of Victoria.

Source: Bloomberg Markets

His father has his roots in the Australian Outback.

His father Kevin Gorman, 90, was an engineer who grew up in the Outback.

Source: Bloomberg Markets

Gorman's father held his children to a high standard.

Gorman's father used to make his children take an IQ test.

Not only were the subjected to testing, but the results were posted in the family's living room with both the score and expected occupation.

According to Gorman's test results, he should have been a mid-level bureaucrat or manager.

Source: Bloomberg Markets

Gorman is well-educated.

Gorman, who attended Xavier College for undergrad, earned his law degree from the University of Melbourne in Australia.

He practiced law at Phillips Fox and Masel before he moved to the United States.

Source: The Age

He also went to business school.

When he arrived in the U.S., he enrolled in Columbia Business School to earn his MBA.

Source: The Age

He joined Morgan Stanley in 2006.

Gorman joined Morgan Stanley in 2006 as president and chief operating officer of the Global Wealth Management Group.

Prior to joining Morgan Stanley, he headed Merrill Lynch's brokerage division.

Source: Bloomberg Markets

A few years later he became CEO.

Gorman, whose predecessor John Mack describes the banker as 'larger than life,' took over the helm as chief executive Jan. 1 2010.

Source: Bloomberg Markets

This year he became the chairman, too.

Gorman was handed the position of chairman effective Jan. 1 after Mack stepped down from the role.

Source: Bloomberg Markets

He's laid out some goals he wants to achieve as CEO.

Since assuming the role of chief executive, he's been tasked with shedding the bank's unprofitable investments and expanding in lower-risk areas.

Part of his plan has been to transition the bank into a wealth manager from a trading house.

He's also set a goal of 15% return on equity.

Source: Bloomberg Markets

In fact, he likes to keep track of his progress as chief executive.

According to Bloomberg Markets, Gorman likes to keep a handwritten checklist on his desk of the tasks he needs to finish.

For example, he crossed off Morgan Stanley closing out its exposure to insurer MBIA this past December.

Source: Bloomberg Markets

He even took a paycut this year.

While 2011 cash bonuses at Morgan Stanley were capped at $125,000, Gorman also took a cut to his compensation package.

Gorman, who won't receive a cash bonus, will take home a 2011 compensation package totaling $10.5 million, compared with $14 million in 2010, sources told Bloomberg Markets.

Source: Bloomberg Markets

He thinks if Morgan Stanley employees are unhappy with pay can just leave.

'I say listen, you're naive, read the newspaper, No. 1. No. 2, if you put your compensation in a one year context to define your overall level of happiness, you've got a problem which is much bigger than the job. And No. 4, if you're really unhappy, just leave. I mean, life's too short.'

Source: Bloomberg TV

Gorman is not your typical flashy Wall Street CEO.

Bloomberg Markets reveals that Gorman still dons the same 'rumpled tuxedo' he bought back in the 1980s when he was studying at Columbia.

Source: Bloomberg Markets

Fun fact: He keeps a stock of Vegemite in his office.

Gorman loves to eat Vegemite--an Australian food paste that's made from yeast extract that is commonly enjoyed on toast.

Source: Bloomberg Markets

He doesn't always drive to the office either.

He enjoys walking home from his Times Square office.

Source: Bloomberg Markets

He also likes to keep it casual.

Sometimes he can be seen rocking a track suit and sneakers on weekends.

Source: Bloomberg Markets

He has his set of favourite hobbies.

According to the Bloomberg Markets report, Gorman enjoys reading John le Carre spy novels.

Source: Bloomberg Markets

And likes to box for his workout.

Gorman takes boxing lessons every week at his gym.

Source: Bloomberg Markets

One more thing...

Gorman is 6-feet-3-inches and weighs 195-pounds.

Source: Bloomberg Markets

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