Morgan Stanley CEO Enlists Workforce in Fiscal Cliff Campaign

Caution Cliff Edge

Morgan Stanley CEO James Gorman has called on the investment bank’s employees to pressure U.S. lawmakers into reaching an agreement that averts the so-called fiscal cliff.

'No issue is more critical right now for the U.S. economy, the global financial markets and the financial well-being of our clients, which is why I am asking you to participate in the democratic process and make your voice heard', Gorman wrote in a memo, a copy of which was obtained by Bloomberg News. The message went to about 30,000 U.S. workers including 16,000 financial advisers, said James Wiggins, a company spokesman.

Bloomberg reports that Gorman, 54, joins a roster of Wall Street leaders including JPMorgan Chase CEO Jamie Dimon in calling on politicians to reach a deal that avoids $607bn in automatic tax increases and spending cuts due to take effect in January. Goldman Sachs CEO Lloyd C. Blankfein is among more than a dozen corporate leaders set to visit the White House Wednesday as President Barack Obama seeks support for his proposals.

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Gorman Enlists Morgan Stanley Workforce in Fiscal Cliff Campaign

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