One of the easiest ways to find out where the next big round of hiring will happen in any industry is by reading the real estate clippings. If a company moves into a giant new office building, you can expect a ‘help wanted’ sign will soon be adorned on their front stoop. That’s exactly what’s happening with Morningstar.
The Chicago-based investment research firm just inked a 10-year lease at 4 World Trade Center. The firm is trading in its 7,500 square foot Midtown office for the tower’s 48th floor, which is 30,000 square feet.
Morningstar’s Chairman and CEO Joe Mansueto acknowledged in a statement that the move was made so that the firm can bring on more employees. “Moving downtown allows us to double our capacity for staff in New York,” he said.
Likely, the hiring won’t begin in full until mid-2015, when Morningstar plans on making the move. The company has dozens of open positions on its website, but only a handful are in New York. The majority of the openings are at home in Chicago.
If you eventually find yourself in an interview at Morningstar, here are two fairly interesting facts you may want to bring up. Founded in 1984, Morningstar launched rather modestly. Joe Mansueto created the firm out of a one-bedroom apartment in Chicago. Pretty impressive considering the firm currently employees north of 3,500 people. Mansueto still owns more than half of all outstanding shares, though you may not want to bring that up.
Second, the company name. It was reportedly ripped from the last sentence of Henry David Thoreau’s Walden. “The sun is but a morning star.”
So research some equities and read up on your Thoreau.
A divide still appears to exist between LGBT employees at financial services companies and their heterosexual colleagues when it comes to the perception of the industry’s culture.
Are you interested in working for BlackRock, the multinational asset management firm? We spoke to Jonathan Jones, BlackRock’s director of global campus recruiting. Here’s what he said about getting in.
Morgan Stanley’s brokerage department was left with some egg on its face after a technical glitch caused a failure to deliver to clients some prospectuses of certain mutual funds that they bought. The bank now needs to repay clients who bought the funds and incurred a loss.
Here’s some good news is you just caught your boss committing a crime and can use some extra cash. The government wants to lift the cap on what it can pay whistleblowers in an effort to encourage more people to come forward with the goods. It also wants to hire more agents to investigate white-collar crime.
During a recent speech, Wells Fargo CEO John Stumpf described billionaire investor Warren Buffett’s aggressive diet, for some reason. During their first meal, Buffett ate a T-bone steak, a side of chicken parmigiana, mashed potatoes and a Cherry Coke. Berkshire Hathaway owns a lot of Coke stock, so that last part at least makes sense. He also double-fisted the salt shaker.
Why do bankers appear more prone to make ethical missteps than others? Maybe it’s all that darn math. A new study found that people who spent 15 minutes solving math problems were 4 times as likely to lie for personal gain in an ethics game than those who answered verbal questions.
Here are a few tips on playing the part of a great trader. If someone asks you about the market, always have a strong opinion, even if you don’t. And when the markets are slow, be careful. That’s when mistakes are made.
Buzz Around the Office
Hedge funder Brian H. Lederman got his name in the New York Post, which is never a good thing if you work on Wall Street. He was outed on Facebook for allegedly grabbing a waitress’s backside, but countered with an interesting alibi. “I’ve grabbed plenty of girls’ a**** in my life, but I’ve never grabbed hers,” he told the paper.
Quote of the Day: “I want to see where they suffered in their lives and how they overcame that. I’m looking for fortitude, I’m looking for an endurance capacity in the individual.” – private equity boss Mark Patterson on what he wants to see in candidates