Morgan Stanley shuffles executives
(11 December 2009 – USA) Morgan Stanley has announced a number of key leadership appointments in an effort to leverage the firm’s deep bench of management and drive a closer collaboration across the business.
The group’s changes have come about due to the appointment of James P Gorman as chief executive officer and president of the firm, replacing John J. Mack as CEO.
Mr Mack will continue with the organisation serving as a chairman of Morgan Stanley.
Chief administrative officer, Thomas Nides, has been given the added responsibility under the new regime of chief operations officer, overseeing the firms operations and technology.
Colm Keller and Paul J. Taubman will serve as co-presidents of institutional securities and will have joint responsibility for the global capital markets business.
Ruth Porat, previously global head of the financial institutions group will step into the position of chief financial officer and Jim Rosenthal, currently head of firm wide technology and operations, will serve as chief operations officer of Morgan Stanley Barney and head of corporate strategy for Morgan Stanley.
James Gorman, appointed CEO, said that Morgan Stanley must look ahead to accelerate the business’s momentum by continuing to revitalize its sales and trading franchise, bringing together the full range of the firm's products and ideas to meet the needs of the clients, and further bolstering risk management capabilities.
The firm is a global financial services giant providing a range of investment banking, securities, investment management and wealth management services in more than 1,200 offices in 36 countries.
Mr Mack will continue with the organisation serving as a chairman of Morgan Stanley.
Chief administrative officer, Thomas Nides, has been given the added responsibility under the new regime of chief operations officer, overseeing the firms operations and technology.
Colm Keller and Paul J. Taubman will serve as co-presidents of institutional securities and will have joint responsibility for the global capital markets business.
Ruth Porat, previously global head of the financial institutions group will step into the position of chief financial officer and Jim Rosenthal, currently head of firm wide technology and operations, will serve as chief operations officer of Morgan Stanley Barney and head of corporate strategy for Morgan Stanley.
James Gorman, appointed CEO, said that Morgan Stanley must look ahead to accelerate the business’s momentum by continuing to revitalize its sales and trading franchise, bringing together the full range of the firm's products and ideas to meet the needs of the clients, and further bolstering risk management capabilities.
The firm is a global financial services giant providing a range of investment banking, securities, investment management and wealth management services in more than 1,200 offices in 36 countries.
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