Several Wharton clubs organized a joint fireside chat with James Gorman, chairman of Disney and chairman emeritus of Morgan Stanley, on Tuesday, Feb. 18.
Gorman spoke at Huntsman Hall to an audience of several hundred undergraduate and MBA students. He spoke for over an hour, with a 45-minute fireside chat followed by an open question-and-answer session.
The event, hosted by Muhammad Vakil, the president of the Wharton Undergraduate Consulting Club, began with a brief introduction by Wharton Dean Erika James who spoke about Gorman’s accomplishments as CEO of Morgan Stanley.
“He led the firm during periods of unprecedented disruption and growth. James assumed the CEO role in 2010 when Wall Street and the global economy was still recovering from the financial crisis,” she said.
Following James’ introduction, Vakil asked Gorman several career-focused questions about his past, including the bank’s pivot to wealth management under his leadership as CEO.
Since Gorman took over as CEO in 2010, Morgan Stanley’s market capitalization grew from roughly $40 billion to over $150 billion when he stepped down in 2024.
Vakil asked Gorman several additional questions, including what characteristics he admired in recent generations and how artificial intelligence will affect Morgan Stanley’s evolution over the next 10 years. Gorman said that he respected recent graduates’ care for the world around them and added that he was unsure how AI would affect the workplace.
Throughout the fireside chat, Gorman spoke about his unique journey. He was born in Melbourne, Australia, to a family of 10 children, and initially practiced law before becoming disenchanted with the profession. He then moved to New York in the 1980s, where he received an MBA from Columbia University.
The conversation concluded with Gorman’s advice to current students. Gorman said that a recent piece of advice he took to heart was to “judge with kindness” and focus on excelling in your current career.
“Too many young people and some older people [are] actually trying to figure out how to get the next job, and there is nothing more frustrating than having the people who work for you constantly campaigning [for] how to get something better,” Gorman said. “The way to get ahead is to do what you’re paid to do really well and trust the system.”
During the Q&A, Gorman fielded questions from several undergraduate and MBA students. Topics included advice for careers, Morgan’s view of the value of an MBA degree today, and his experience as an immigrant coming to the United States.
Wharton sophomore Abby Soares expressed her respect for Gorman in an interview with The Daily Pennsylvanian after the event.
“I thought his talk was not just informative but incredibly personal, which I appreciated from someone of his position,” Abby said. “What stood out was his willingness to take risks and his advice to not plan so much.”
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