Page 13 - Dan Simkowitz News Today

May 21 (Reuters) - The lack of women among Morgan Stanley's ( MS.N ) CEO succession underscores the importance of developing and retaining diverse talent,

One-Stop Business and Finance News

James Gorman's plan to step down as Morgan Stanley's CEO sets up a battle among 3 candidates among the firm's execs.

Gormans decision also puts spotlight on some of other long-serving CEOs at the largest US banks

By Lananh Nguyen NEW YORK (Reuters) - When James Gorman made one of the biggest announcements of his career on Friday -- that he would be stepping down as Morgan Stanley CEO within a year

Russia warns West on supplying Ukraine with F-16s; as inflation comes down, wage rises will need to be higher than inflation, Tony Burke says; Kevin McCarthy sees no progress on US debt ceiling until Biden gets back. Follow the latest here.

Gorman said the board has identified three strong candidates to succeed him and that he will become executive chairman once a new CEO is chosen

The company has identified three “very strong senior internal candidates” to take over the role.

Morgan Stanley CEO James Gorman plans to step down within a year but stay on as executive chairman, drawing to a close 13 years in the role during which he built the Wall Street firm into a wealth management powerhouse.

We're disappointed to see James Gorman go but have full confidence in the bank going forward — and see a potential buying opportunity.