Morgan Stanley Chief Executive Officer James Gorman

Morgan Stanley Chief Executive Officer James Gorman

Peter Foley/Bloomberg

Morgan Stanley Chief Executive Officer James Gorman, who has weathered a 53 percent stock-price plunge since taking over at the start of 2010, has sold businesses, added liquidity and vowed to increase the bank’s reliance on steadier wealth management, trying to assuage concerns that his firm is riskier than rivals.