You don't usually hear the word "apprenticeship" thrown around a lot on Wall Street these days. It sounds old-fashioned. Kinda like something out of a Dickens novel. But if you're talking about Eric Grossman Morgan Stanley’s veteran Chief Legal Officer, it’s basically the hill he’s willing to die on.
While most of the corporate world was busy trying to figure out how many days a week they could stay in their pajamas during the early 2020s, Grossman was writing letters. He wasn't just checking in. He was sounding an alarm. He told outside law firms, quite bluntly, that if they weren't in the office, they were losing their edge.
It wasn't just a "boss" thing. It was about the future of the law itself.
Grossman has been at the helm of Morgan Stanley’s legal and compliance division since 2012. That is a lifetime in "bank years." Most people in these roles burn out or cash out after five. He’s stayed. And in 2022, he even added the title of Chief Administrative Officer (CAO) to his business card. Honestly, you've gotta wonder how one person manages that much surface area at a firm that moves $1.2 trillion in assets.
The "Back to Office" Letter That Shook Big Law
If you want to understand who Eric Grossman is, you have to look at July 2021. Most of us were still arguing over Zoom backgrounds. Grossman, however, sent a memo to the law firms Morgan Stanley hires.
He didn't mince words.
He basically said that a hybrid meeting with some people in the room and others on a screen is "challenging at best." He argued that the legal profession is built on an apprenticeship model. You learn by being in the room when the deal goes south. You learn by watching a partner handle a crisis in real-time. You don't get that through a 13-inch laptop screen.
"Our profession cannot long endure a remote work model," Grossman wrote.
This wasn't just a grumpy executive wanting to see bodies in chairs. It was a strategic move. He was telling the firms that bill Morgan Stanley millions: If your associates aren't learning from you in person, they aren't getting better. And if they aren't getting better, why am I paying you?
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From Davis Polk to the 40th Floor
Grossman didn't just wake up as the CLO of a global investment bank. He put in the miles.
He started at Davis Polk & Wardwell, one of those "White Shoe" firms where the carpets are thick and the hours are longer. He became a partner there in 2001. By 2006, Morgan Stanley scooped him up as the Global Head of Litigation.
Think about the timing. 2006 was the peak of the pre-crash bubble. He joined just in time for the world to catch fire in 2008. He survived the Great Financial Crisis from the inside. He wasn't just a lawyer then; he was a firefighter. He eventually ran the legal side of Global Wealth Management and helped integrate the massive Smith Barney merger.
By the time he was named Chief Legal Officer in January 2012, he had seen the firm at its absolute lowest and its most chaotic.
A Quick Look at the Timeline:
- 1993: Graduates from Fordham Law (magna cum laude, naturally).
- 1993-1994: Clerks for Judge Richard J. Cardamone.
- 2001: Becomes Partner at Davis Polk.
- 2006: Joins Morgan Stanley (Global Head of Litigation).
- 2012: Named Chief Legal Officer.
- 2022: Adds Chief Administrative Officer to his responsibilities.
- 2024: Awarded the Medal of Achievement from Fordham Law.
Why Everyone Talks About His Stance on Diversity
It’s easy for a bank to put a "Diversity and Inclusion" banner on its website. It’s a lot harder to actually move the needle. Grossman has been surprisingly vocal here, though it hasn't always been without friction.
He’s pushed a "Sponsorship" model rather than just "Mentorship." In his view, a mentor is someone you chat with. A sponsor is someone who uses their social capital to get you a promotion. He’s required his management committee—which is over 25 people—to identify high-potential diverse talent and actually track their progress.
But it’s the "Outside Counsel" pressure that really made waves.
Grossman has famously told the law firms that represent Morgan Stanley that their diversity numbers matter. If a firm shows up to a meeting with a team that all looks the same, he notices. And he says something. In 2022, this actually drew some heat from conservative legal groups like the Project on Fair Representation, who sent him letters accusing the firm of overstepping.
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He didn't really flinch. He basically argued that a diverse team provides better legal advice because they see the world from more than one angle.
The Reality of Being CLO in 2026
What does Eric Grossman actually do all day? It’s not just reviewing contracts.
In 2026, the job of a CLO at a place like Morgan Stanley is essentially managing "The Unknown." You have to deal with:
- AI Regulation: How do you let 80,000 employees use LLMs without leaking trade secrets?
- Geopolitical Risk: What happens if a major market suddenly becomes un-investable overnight?
- Cybersecurity: If the bank gets hacked, the CLO is the one sitting in front of Congress explaining what happened.
Grossman has a reputation for being "vocal and out front." According to Chambers Profiles, he’s known for knowing when to be hands-on and when to step back. That’s a rare skill in a high-pressure environment where most people want to micromanage everything to avoid a lawsuit.
The Human Side: Steaks, Rugby, and Fordham
Despite the high-powered job, Grossman seems... surprisingly normal?
He’s a Hamilton College guy (class of '88). He played rugby. He lives in Larchmont with his family. In a 2021 interview with Max Raskin, he talked about his love for cooking steak and his obsession with finding good butcher shops. He even admitted to being a fan of "Relisten," an app for live concert recordings.
He met his wife in his law school section at Fordham. He’s stayed incredibly loyal to that school, serving as the Chair of the Dean’s Planning Council. He’s the guy who hosts the annual Morgan Stanley/Fordham summer associate reception.
It’s that "giving back" thing that seems to drive him. He’s the President of the Board for Advocates for Children of New York. He’s not just a name on the letterhead; he’s actually involved in the work of protecting the rights of students who struggle in the school system.
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What Most People Get Wrong About Him
Some people see his "Back to the Office" stance as being "anti-worker."
That’s a bit of a shallow take. If you look at his speeches, it’s actually the opposite. He’s worried about the workers. He’s worried that a 25-year-old associate sitting in a studio apartment in Brooklyn isn't getting the mentorship they need to become a 45-year-old partner.
He sees the office as a place of professional survival, not just a place of production.
Sorta makes sense when you think about it. If the legal profession is just "tasks" that can be done from anywhere, then the legal profession can eventually be done by a robot. But if the legal profession is about judgment, nuance, and "being in the room," then humans are still the most valuable asset.
Takeaways for Future Leaders
If you’re looking at Eric Grossman’s career as a roadmap, here’s what you should actually pay attention to:
- Longevity is a Superpower: In an era of job-hopping, staying at one firm for 20 years gives you a level of "institutional memory" that is impossible to replicate.
- Don't Be Afraid of a Hot Take: His stance on remote work was unpopular with many, but it was honest. People respect a clear position more than corporate double-speak.
- Sponsorship > Mentorship: If you want to help people, don't just give them advice. Give them opportunities and put your own reputation on the line for them.
- Maintain the "Human" Connection: Whether it’s rugby, cooking, or helping kids in the NYC school system, having a life outside the 1585 Broadway office is probably what keeps him sane.
The role of the Chief Legal Officer isn't just about avoiding jail or fines anymore. It’s about culture. And for Eric Grossman, culture is something that happens in person, with a bit of grit and a lot of honest conversation.
Actionable Next Steps: * If you’re a legal professional, evaluate your own "apprenticeship" model—are you actually learning from mentors, or just finishing tickets?
- If you're in a leadership position, look at your "Sponsorship" track record. Who have you actively moved up the ladder lately?
- Review your firm's stance on "institutional memory"—are you keeping your veterans, or losing your history every three years?