Morgan Stanley's executive chairman James Gorman, who turned the bank into a wealth management powerhouse during his nearly two-decade tenure, announced he will step down at the end of the year. Gorman, 65, served as CEO for 14 years before becoming chairman. At the shareholder meeting, he highlighted the successful transition of his successor, Ted Pick, and the retention of key executives Andy Saperstein and Dan Simkowitz. This news follows JPMorgan CEO Jamie Dimon's recent succession plan updates.
first published: May 24, 2024 02:43 pm
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