Morgan Stanley CEO Plans To Step Down Within the Year
by: Hugh Son
James Gorman announced plans to resign as Morgan Stanley’s CEO within the year. The bank’s board has narrowed its CEO search to three “very strong” internal candidates, Gorman told shareholders at the firm’s annual meeting. Since taking over in 2010, Gorman has pulled off one of the more successful transformations on Wall Street. Through a series of acquisitions, Morgan Stanley rebounded after nearly going under during the 2008 financial crisis to become a wealth management giant.
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