Charting Stocks

Morgan Stanley CEO announced that he is stepping down as CEO and will be replaced by James P Gorman.  Mack, who spent four years as the head of the prestigious investment bank, will remain with the firm as its Chairman.

James Gorman joined Morgan Stanley in early 2006 as the President and COO of the firms Global Wealth Management Group. He was recruited by Mack in an effort to turn around the firms ailing brokerage division which was seriously lagging its competitors. By 2007, the wealth management division rose to the top of the industry under his leadership. Gorman was quickly promoted to the position of Co-President of Morgan Stanley along with Walid Chammah.

Prior to joining Morgan Stanley, Mr Gorman was the President of the Private Client Group at Merrill Lynch. Before Merril he was a senior partner at McKinsey & Co, one of the most respected consulting firms in the world.

Gorman is an Australian native with a law degree from the University of Melbourne. He also holds and MBA from Columbia Business School and sits on the board of directors of the Metropolitan Museum of Art.

Related posts:

1. Did Morgan Stanley Finally Dump Dean Witter?
2. Who got AIG’s bailout money?
3. Morgan Stanley predicts economic collapse worse than depression
4. John Thain Refuses to Answer Cuomo’s Questions on Merrill Bonuses
5. Review of 2008 Predictions a la Wall Street’s “Finest”