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The outgoing CEO, now executive chairman of the Wall Street firm, told a conference at the Federal Reserve Bank of New York this week that cultural values are a critical element in any prospective merger or acquisition deal.
Gorman spent 14 years at the helm and is credited with transforming Morgan Stanley into a wealth management powerhouse
The shareholders approved all of management's proposals on Thursday including election of directors and approving executives pay
Morgan Stanley shares slide as Executive Chairman James Gorman announces resignation plans and concerns over executive pay awards surface amidst shareholder meeting outcomes.
When CEOs are chosen democratically.