Morgan Stanley’s James Gorman to deliver Sir Keith Murdoch Oration

After a four-year hiatus, State Library Victoria is back hosting the event at a time when ‘experience and wisdom are much needed commodities’.

Morgan Stanley chairman and chief James Gorman.

Morgan Stanley boss James Gorman will deliver the first Sir Keith Murdoch Oration in four years at what State Library Victoria president Christine Christian says is an auspicious time.

A day after Ms Christian was appointed the first female president of the state library in May 2021, Melbourne was plunged into its marathon pandemic lockdown.

“I could share many anecdotes of leading a library, which was completely shut down,” Ms Christian says dryly.

“But the hard work of our team has been central to our strength. We have emerged from the pandemic, and now it’s about really starting to drive growth of this priceless community asset.”

State Library Victoria president Christine Christian.

Interest is expected to be particularly high in this year’s oration, on April 4, given Mr Gorman’s insight into running Morgan Stanley and how the US banking crisis has spread to Europe, placing investors on tenterhooks, while globalisation has come under strain.

“We’re thrilled to secure James Gorman’s participation. He is a renowned global business leader as chairman and chief executive of Morgan Stanley and a proud Melburnian,” Ms Christian says.

“With the challenges confronting the global economy and the atmosphere of fracturing globalisation — all the implications around current events — experience and wisdom are much needed commodities.

“James will share this in spades at the oration. This event allows a squaring of the circle.

“James Gorman spent time studying in Melbourne as a student and due to his strong connection with the State Library Victoria, he returns to deliver the oration at a very auspicious time.”

Mr Gorman led Wall Street’s response to bushfires which brought so much misery ahead of the pandemic, personally donating $1m to the cause.

“Like all Australians, whether at home or abroad, my heart goes out for those affected by the fires,” he said at the time. “The loss of life, property, livestock, wildlife and beautiful countryside is deeply upsetting.”

The oration pays tribute to Sir Keith Murdoch — father of Rupert Murdoch, executive chairman of News Corp, which owns this masthead. Sir Keith was a trustee of State Library Victoria from 1933 to 1939 and later president from 1939 to 1945.

News Corp chief executive Robert Thomson delivered the last oration in 2019. Since then, State Library Victoria’s Vision 2020 redevelopment has been completed, which involved expanding the library’s public space by 40 per cent at a cost of $88.1m. The Ian Potter Queen’s Hall has also been reopened to the public.

This has led to visitation rates rising to two million a year, with it becoming the world’s fourth most visited library.

A key part of that success is the Sir Keith Murdoch Oration, which Ms Christian says not only attracts people from across Melbourne and Australia but also globally, with past speakers including former prime minister Paul Keating, Nobel laureate professor Peter Doherty, Sebastian Coe and Noel Pearson.

Ms Christian — who was chief executive of Dun & Bradsheet Australia and New Zealand for more than 15 years — says the speech highlights the nexus between culture and business.

“My background is in business but I really sincerely believe that it’s in the cultural sector that the most dynamic and energetic progress can be made to nurture a rich and creative culture. Without it, Melbourne, Victoria would not have the sort of resilience and prosperity that it has.

“The economic benefits to Victoria, provided by the state library, is significant. It is over $120m annually, so it’s an important cultural institution and we’re leading the recovery of Melbourne’s CBD as people flood back through our doors and we see our visitation rates climb to new heights.”