Morgan Stanley misses a trick on Mack succession

September 15, 2011

Morgan Stanley's board must have a strong sense of irony. It chose the third anniversary of the collapse of Lehman Brothers to reinstate one of Wall Street's uglier traditions: combining the roles of chairman and chief executive.

Wall Street, City pay still must fall by a third

October 11, 2012

Morgan Stanley’s boss is right that investment banking is overstaffed and overpaid. The bill for traders, advisers and money managers at seven global firms needs to drop by about $30 bln, a Breakingviews calculator shows, to give shareholders a shot at decent returns on equity.

Morgan Stanley thumbs its nose at UBS approach

November 5, 2012

CEO James Gorman is tapping fixed-income boss Colm Kelleher to run the investment bank. Picking him over M&A counterpart Paul Taubman, who is leaving, reinforces Morgan Stanley’s belief it can make a serious go of FICC. The clock’s already ticking, though, on whether it can.

New Morgan Stanley boss makes smart first move

December 8, 2009

James Gorman is off to a good start. In his first big decision as Morgan Stanley's CEO-to-be, Gorman has surrounded himself with veterans of the firm rather than bring in an outsider. This should help preserve the culture and ease internal fears about Gorman's pedigree.