Morgan Stanley CEO Gorman to hand reins to successor within a year
When James Gorman, CEO of Morgan Stanley, declared his intention to step down within the next 12 months at the bank's annual shareholder meeting, it caused a stir on Wall Street. Reuters was the first to report the news, and the stock of Morgan Stanley dropped more than 1% at the open and closed almost 2.7% lower. This major leadership change has also raised questions about the succession plans of other prominent finance executives, such as JP Morgan CEO Jamie Dimon.0
