CEOWORLD magazine - Latest - Success and Leadership - CEO of Morgan Stanley, James Gorman, will be stepping down from his position.

Success and Leadership

CEO of Morgan Stanley, James Gorman, will be stepping down from his position.

James P. Gorman
James P. Gorman, Chairman and Chief Executive Officer of Morgan Stanley

During Morgan Stanley’s annual shareholder meeting, James Gorman announced his intention to step down as CEO within the next year. He revealed that the board had identified three highly qualified internal candidates to be considered for the position.

A race to succeed has begun at one of the leading firms on Wall Street. James Gorman was recently ranked No. 1 in a list of the world’s best CEOs for 2023; meanwhile, Morgan Stanley ranked No. 6 in the CEOWORLD magazine’s ranking of the most influential companies in the world.

After resigning as CEO, James Gorman, aged 64, has announced that he will temporarily assume the position of executive chairman. When the Australian-born executive took over as CEO, John Mack, Gorman’s predecessor, remained as chairman for two years.

“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 said.

“That is the current expectation in the absence of a major change in the external environment,” he added.

Who will replace him?

Morgan Stanley’s three executives who lead the company’s main business lines are being considered as potential candidates to replace Gorman. The executives are Edward “Ted” Pick, who heads the institutional securities group, Andy Saperstein, who leads the wealth management division; and Dan Simkowitz, who manages investment management. Both Pick and Saperstein are co-presidents of Morgan Stanley. The company has not disclosed any information regarding specific candidates.

Have you read?
The Global Passport Index: The World’s Most Powerful Passports.
Countries With The Most Billionaires, 2023.
Top CEOs in Switzerland, 2023.
Biggest banks in the world, as measured by total assets, 2023.
The World’s Richest Self-Made Women, 2023.
Ready to join the CEOWORLD magazine Executive Council– Find out if you are eligible to apply.

Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Thank you for supporting our journalism. Subscribe here.
For media queries, please contact:
CEOWORLD magazine - Latest - Success and Leadership - CEO of Morgan Stanley, James Gorman, will be stepping down from his position.
Prof. Dr. Amarendra Bhushan Dhiraj
Prof. Dr. Amarendra Bhushan Dhiraj is a media and technology executive, macro-economist, strategic thinker, chair, and chief executive officer of the CEOWORLD magazine, one of the world’s most influential and recognized global news publications. Under Dr. Amarendra's leadership, CEOWORLD magazine has become the world's most iconic news organization, whose rigorous reporting and unsurpassed storytelling connect with millions of business leaders daily. Additionally, he serves as the chair and founding member of the CEOWORLD magazine’s Inclusion Advisory Board.

In his current role, he counsels and collaborates with c-suite executives of large multinational corporations, helping them drive change in their companies to improve their competitiveness. Dr. Amarendra has extensive experience in serving on numerous boards. He leads and supports a globally dispersed team of columnists, correspondents, editors, journalists, reporters, researchers, and industry analysts.

He received his Ph.D. in Finance and Banking from the European Global School, Paris, France. He also received his Doctoral Degree in Chartered Accountancy from the European International University Paris, France, and a Doctorate in Business Administration from Kyiv National University of Technologies and Design (KNUTD), Ukraine. He earned his Master of Business Administration degree in Finance and his master’s degree in Chartered Accountancy (CA) from European Global School Paris. Dr. Amarendra also holds a Master of Business Administration degree in International Relations and Affairs from the American University of Athens, Alabama, United States.

As CEO, he transformed the CEOWORLD magazine into a highly efficient, digital-first, profitable enterprise. Today, CEOWORLD magazine is a standard bearer for modern responsible journalism. Dr. Amarendra retains a strong desire to continuously improve his skills and abilities and believes that the first step to being a true leader is to inspire others to lead with you.

Prof. Dr. Amarendra Bhushan Dhiraj is the CHAIR, CEO, AND EDITORIAL DIRECTOR of the CEOWORLD magazine. Connect with him through LinkedIn.