The three internal candidates to succeed James Gorman as Morgan Stanley CEO are all men, according to reports.
News that James Gorman is planning to step down as CEO of Morgan Stanley has focused attention on the lack of female CEOs at America’s biggest banks.
The... News that James Gorman is planning to step down as CEO of Morgan Stanley has focused attention on the lack of female CEOs at America’s biggest banks. The three potential candidates to succeed Gorman are all men, according to reports from Barron’s and the Wall Street Journal. Edward “Ted” Pick is head of Morgan Stanley’s institutional securities group, Andy Saperstein leads Morgan Stanley Wealth Management and Dan Simkowitz is head of investment management. Pick and Saperstein are also Morgan Stanley co-presidents.
So what can banks do? In a report released in 2020, Deloitte said that in order to increase the diversity of their candidate pools, financial-services firms need to recruit more women to jobs in the areas CEOs have historically come from, such as business, finance and operations.
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