Reported 5 months ago
Former Morgan Stanley CEO James Gorman shared his vision for the U.S. banking system at the Federal Reserve Bank of New York's annual conference, suggesting a structure with mainly megabanks and tiny community banks. Gorman emphasized the importance of aligning values in acquisitions and building a culture based on competence and collaboration. He highlighted efforts to increase female representation in leadership roles and acknowledged the need for industry-wide cultural changes, such as addressing long working hours for junior employees.
Source: YAHOO