Bloomberg Law
April 16, 2020, 5:50 PM

Gorman Sees Morgan Stanley Future With ‘Much Less Real Estate’

Erik Schatzker
Erik Schatzker
Bloomberg News

James Gorman is hesitant to make predictions about the future with so much about the coronavirus pandemic still uncertain. One thing is clear, however: Morgan Stanley will have “much less real estate.”

“We’ve proven we can operate with no footprint,” Gorman, the firm’s chief executive officer, said in an interview Thursday with Bloomberg Television. “Can I see a future where part of every week, certainly part of every month, a lot of our employees will be at home? Absolutely.”

Morgan Stanley Chairman and Chief Executive Officer James Gorman talks with Bloomberg’s Erik Schatzker on “Bloomberg Markets.” (
Source: Bloomberg)

It’s an early glimpse of the longer-term changes Covid-19 holds in store for an economy that largely has been operating ...