New York Post
James Gorman announced he will step down as Morgan Stanley chief executive officer after a 13-year stint in which he transformed the bank into a Wall Street powerhouse.
Gorman — who took over the bank in 2010 following the financial crisis — will switch to his new role as executive chair within the year, he added.
“The specific timing of the CEO transition has not been determined, but it is the board’s and my expectation that it will occur at some point in the next 12 months,” Gorman told shareholders at the firm’s annual meeting on Friday.