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Gorman Takes Over For Mack as Morgan Chairman

Gorman Takes Over For Mack as Morgan Chairman

mackJohn Mack is stepping down as Chairman of Morgan Stanley. James Gorman will take his place. Morgan Stanley issued a release on the reorganization. The New York Times has more.

"Mr. Mack, a former chief executive of the firm, has been chairman since early 2010. He is expected to retain a senior advisory role, and is currently working on a book about leaders and his years on Wall Street, which is scheduled to be published next September."

And:

"The decision to have Mr. Gorman succeed Mr. Mack as chairman was widely expected."
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