Why the Gorman news isn’t big news

September 11, 2009

I’m still trying to figure out why much of the financial press seems to think the announcement that James Gorman will replace John Mack as CEO at Morgan Stanley is some shocking event. It would have been a big shock if Gorman didn’t get the job.

Bye bye Mack

September 10, 2009

John Mack is making way for a changing of the guard at Morgan Stanley.

The Wall Street firm says Mack is stepping aside as CEO at year’s end to make way for James Gorman, long seen by many on Wall Street as Mack’s heir apparent.

Mack is no Blankfein, thankfully

July 22, 2009

John Mack is being pilloried by some on Wall Street for not being more like Goldman Sachs’ Lloyd Blankfein, after Morgan Stanley reported a larger-than-expected second-quarter loss largely because of several onetime expenses.