Morgan Stanley’s board of directors is currently engaged in discussions regarding the future CEO of the company. James Gorman, the current CEO, has announced his intention to step down within the next year. However, he will continue serving as the executive chairman for a certain period after his departure.
There are three internal candidates who are being considered as the frontrunners for the position. Ted Pick, currently serving as co-president in Morgan Stanley’s institutional securities group, is one of the candidates. Another candidate is Andy Saperstein, who holds the role of co-president in the wealth management division. Lastly, Dan Simkowitz, the head of the investment management business, is also being considered.
The board is anticipated to reach a final decision on the next CEO in the coming months. During this time, Gorman is said to be decreasing his participation in the company’s daily operations, with the goal of establishing a new beginning for the incoming CEO and enabling a smooth transition.
The financial industry is closely monitoring the succession process at Morgan Stanley. As one of the world’s largest and most successful investment banks, the company’s next CEO will play a significant role in shaping its future trajectory.
