Goldman Sachs & Morgan Stanley reached the same conclusion about hiring. Why banker layoffs are about more than cost-cutting
Goldman Sachs and Morgan Stanley are following a similar trajectory. Both have cut or are cutting around 6% of their workforces. Both want to focus more on wealth and asset management (although Morgan Stanley is further down this road). And both are growing in Paris. Morgan Stanley in particular is redoubling its efforts in the French capital. Reuters reports that as Morgan Stanley increases headcount ...