James Gorman to Step Down as Morgan Stanley CEO and Assume Executive Chairman Role.
TL;DR Summary
James Gorman, CEO of Morgan Stanley, has announced his retirement within the next 12 months. He will remain as executive chairman of the board while the company searches for his successor from within, with three candidates currently under consideration. Gorman became CEO in 2010 and oversaw major deals including the acquisitions of Eaton Vance, E*Trade, and Solium Capital. Wealth management accounted for 45% of the firm's revenue in the first quarter of 2023.
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