Surveillance: James Gorman's Surprise; Tech and AI Defy Gravity
Morgan Stanley’s transition may point to more Wall Street moves
Morgan Stanley’s James Gorman stunned Wall Street with his plans to step aside as chief executive officer.
Photographer: Paul Yeung/BloombergIt is a time of change in technology, Fed policy and, apparently, leadership at big Wall Street firms.
Two things stand out about James Gorman’s plan to step down as Morgan Stanley’s chief executive officer over the next 12 months “in the absence of a major change in the external environment.”