12:19 - 22.05.2023

---

May 22, Fineko/abc.az. Morgan Stanley chief executive James Gorman will step down as the company’s head within the next 12 months, ABC.AZ reports with reference to The Wall Street Journal.

At the bank’s annual shareholder meeting on Friday he stated that new CEO will be determined in the next 12 months.

The board of directors has three senior internal candidates in the pipeline to potentially take over as the next chief executive. Gorman said that he will assume the role of executive chairman for “a period of time” to help Morgan Stanley transition to its next era of leadership.