James Gorman Simply Wrapped Up a Profitable Tenure at Morgan Stanley. It Nearly Didn’t Flip Out That Means.

James Gorman ordered an additional dry vodka martini at a St. Petersburg, Russia, resort bar late one night time in June 2012. The Morgan Stanley chief govt officer was there to have a good time a downgrade.

The CEO of considered one of America’s largest banks wouldn’t usually be toasting such a transfer. However Moody’s determination to decrease Morgan Stanley’s credit standing by simply two notches, fairly than the three it was weighing, had saved the financial institution from a disastrous fall into junk territory.