Morgan Stanley CEO James Gorman announced he is stepping down from his chief executive position at the bank's annual shareholders meeting this week.
Morgan Stanley CEO James Gorman attends the Reuters NEXT Newsmaker event in New York City, New York.
As CEO, Gorman struck major deals including the acquisitions of money manager Eaton Vance, online broker E*Trade and stock-plan manager Solium Capital. He was also the key architect behind Morgan Stanley's purchase of Smith Barney, a brokerage and investment adviser that became a cornerstone of the bank's wealth management arm.
Morgan Stanley's first-quarter profit beat expectations as rising revenue from wealth management in the first quarter offset declines inFox Business's Joe Toppe and Charlie Gasparino contributed to this report.
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