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The Aussie who transformed Morgan Stanley, deal by deal

James Gorman is standing down as chief executive after more than a decade heading one of the world’s biggest investment banks. Three contenders are though to be vying for his job.

New York | When James Gorman made one of the biggest announcements of his career – that he would be stepping down as Morgan Stanley chief executive within a year – he still managed to crack a joke.

“An issue of paramount importance to shareholders, employees and clients is, of course, succession – and no, I’m not just talking about the TV series,” Melbourne-born Mr Gorman told shareholders at the company’s virtual annual meeting on Friday (Saturday AEST).

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Reuters

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    Original URL: https://www.afr.com/markets/equity-markets/the-aussie-who-transformed-morgan-stanley-bows-out-20230521-p5da0j