Morgan Stanley CEO Steps Down

Morgan Stanley CEO Steps Down
James Gorman, Chairman and CEO of Morgan Stanley, speaks about the state of the US and global economy and health of Morgan Stanley during remarks at the Economic Club in Washington on Sept. 18, 2013. Saul Loeb/AFP via Getty Images
Efthymis Oraiopoulos
Updated:
0:00

Morgan Stanley’s CEO, James Gorman, announced he is stepping down during an annual shareholders meeting on Thursday.

Mr. Gorman said he will leave the position on Dec. 31, giving his place to Ted Pick after a “successful transition” period. In a move unusual for Wall Street, the two other candidates for the top position will remain in the company. The two are executives Andy Saperstein and Dan Simkowitz.

Efthymis Oraiopoulos
Efthymis Oraiopoulos
Author
Efthymis Oraiopoulos is a news writer for NTD, focusing on U.S., sports, and entertainment news.
Related Topics