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James Gorman to Step Down as Morgan Stanley Chairman

James Gorman to Step Down as Morgan Stanley Chairman

Morgan Stanley's James Gorman said on Thursday that he will step down as executive chairman of the board at the end of the year. Gorman was Morgan Stanley's longtime CEO until Jan. 1 when Ted Pick took over as chief. Gorman told The Wall Street Journal in January that his presence at Morgan Stanley was to support Pick, not to direct him.