How Millennials Are Changing Wall Street


From thetyee.ca on May 5th, 2014

Over the past few years, one of the world’s leading financial institutions began to notice something peculiar about investors born after 1982. They seemed to think that Wall Street should aspire to more than just profits. “I was taught in [business] school that the purpose of a corporation is to maximize shareholder value,” said Peter Roselle, vice-president at Morgan Stanley. “Millennials, though, have identified the improvement of society as the primary purpose of business.”

What were millennials like me to make of such a remark? Coming from a leading financial advisor, no less, whose firm’s own self-interest played a major role in the 2008 financial crash? That question was on my mind as I…
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