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AP National Business

Morgan Stanley’s James Gorman, who arrived at the bank shortly before financial crisis, to retire

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Published 9:45 AM

By KEN SWEET
AP Business Writer

NEW YORK (AP) — Morgan Stanley’s long-time CEO James Gorman will retire in the next 12 months, he said Friday at the bank’s annual shareholder meeting. Gorman said the bank is looking at “three senior internal candidates” to be the investment bank’s new CEO. Once the transition does happen, Gorman said he plans to remain at the bank as executive chairman of the board for a period of time.

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