Talk around the water cooler is Morgan is not using State Street as a service provider. Anyone know if this is true ?
12 replies (most recent on top)
The attention on Morgan has never been greater, too bad this compane is reactive and proactive. They could have kept a good client. Never seen such a poorly managed place.
Both AUC and AUM are at record highs.
The stock price also erased the drop from CRD acquisition.
State Street shareholders are doing fine.
@7ks
Agree 100%
Gone are the glory days of this once great company.
When the company's motto used to be " Our employees are our greatest asset"
Now it changed to " U.S employees are our greatest expense which must be cut
through outsourcing and H1b Workers.
And finding any type of job when your 50+ is extremely hard. I know many former
colleagues who had to take jobs in other fields making 25% to 35% less.
As a former employee I am surprised that they have not lost more clients. State Street has been outsourcing since the early 2000's. The work that was provided by the team in India was incomplete and needed to be edited without adequate time to revise and review. Some of my former colleagues are still working for State Street but many have left to work for our competitors. I loved working for State Street, but it had definitely been a challenging time before I resigned. Sadly, some of my former colleagues really struggled to get hired in any type of role or transitioned into a sales role which is not what they were doing previously.
Whoever is supporting Morgan Stanley should be calling them and inquiring about possible employment when they take the business back.
Not only this jobs will be cut monthly and continue to be cut but hey the boss took a 6 million dollar raise.
ss continues to lose partners. seriously don’t know how anyone still uses ss.
10000000 percent accurate. Work is shrinking oh my.
How many other clients has the company lost and you never read about it ??? Hmmm
Maybe the mass exodus started when they got rid of the majority of the U.S workers.
Who did excellent work and having it done know by the Indian H1B workers and Indian office.
I guess the company forgot the old saying, " Penny wise Pound folish"
Heard that too. MS has been very unhappy for awhile. Surprised it took them this long to jump ship.
My friend was on their account (trade process) and was taken off about a month ago moved to another team. That was rumor when they moved her.
Not surprised.