![]() His focus on deals was good, but also on enabling trades, that is something that they really set out to capture as a market. "It has really been a great performing stock and I think it's largely because of Gorman's focus on the new world of how things are done. KIM FORREST, CHIEF INVESTMENT OFFICER, BOKEH CAPITAL PARTNERS, PITTSBURGH: "James Gorman has done a masterful job of transforming Morgan Stanley into the model that most major banks want to be, with a focus on asset management, financial advisors, and a road map to get to $10 trillion in assets under management." It's a company that has done quite well for itself in the midst of a time when other banks have not."ĪRT HOGAN, CHIEF MARKET STRATEGIST, B RILEY WEALTH, BOSTON: The guy has done an excellent job navigating the bank. ![]() ![]() "I would applaud James Gorman here for taking the right time to step down. PHIL BLANCATO, CHIEF EXECUTIVE OFFICER, LADENBURG THALMANN ASSET MANAGEMENT, NEW YORK: So, I don't anticipate any major change in strategic direction, and I would think that the transition would be relatively orderly. He's been pretty clear in terms of establishing a bench that would be there to be able to support him when and if he chose to leave. "James Gorman has taken a lot of effort to bolster the leadership ranks and to train and promote potential successors there. JOHN GUARNERA, SENIOR CORPORATE ANALYST AT RBC BLUERAY ASSET MANAGEMENT: Under his leadership MS stock has been one of the best performing financials, so I expect investors will be disappointed he is leaving and will see him as a hard act to follow." "Gorman has been at MS for a long time now, and was very much behind the purchase by MS of E*Trade Financial Corp and Eaton Vance Corp, both of which have been very successful for MS. STUART COLE, HEAD MACRO ECONOMIST, EQUITI CAPITAL, LONDON: Shares of Morgan Stanley slipped about 1% to $83.84 in morning trading. Gorman, 64, said the board has identified three strong candidates to succeed him and that he will become executive chairman once a new CEO is chosen. NEW YORK, May 19 (Reuters) - Morgan Stanley (MS.N) CEO James Gorman told shareholders Friday that the company will likely appoint its next CEO in the next 12 months.
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