After 13 years at the helm, his tenure as CEO is coming to an end.
Fed Reserve Chair Jerome Powell has defended the stability of the country’s financial sector.
Morgan Stanley CEO James Gorman reportedly has plans to step away from his position sometime within the next year. The position of executive chairman, however, will be his new responsibility. After 13 years at the helm, his tenure as CEO is coming to an end. During his tenure, the company went from a Wall Street bank to a wealth management powerhouse.
During the Bank’s annual shareholder meeting, James Gorman reportedly remarked that the board anticipates this transfer taking place over the next 12 months. He said that the board has identified three capable employees who would be excellent candidates for the CEO position.
Multiple Frontrunners
The two frontrunners to become the new CEO of Morgan Stanley are co-presidents Ted Pick and Andy Saperstein. While Andy Saperstein oversees the bank’s wealth management section, T
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