Reported 5 months ago
Morgan Stanley's executive chairman James Gorman will be stepping down from his role at the end of the year, citing a successful transition to new CEO Ted Pick as the reason. Gorman had previously hinted at this move in May 2023, after joining the firm in 2006 and guiding it through challenging times after the global financial crisis. Under his leadership, Morgan Stanley transformed into a prominent wealth management firm, with a strong performance in its investment banking and wealth management businesses. Gorman's departure is seen as part of a well-executed succession plan, with Ted Pick poised to take over as the new CEO.
Source: YAHOO