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The publication said sources told them the bank’s directors will consider three internal candidates at its meeting in London in July and later gatherings in New York in September and October, with its outgoing boss looking to clear the deck by resolving major regulatory matters.
The three candidates are said to be current Morgan Stanley co-presidents Ted Pick and Andy Saperstein and head of investment management Dan Simkowitz. However, the two front runners are Pick and Saperstein, according to Reuters, with Pick said to currently have the edge, although no final decision has been made.
When a new CEO takes over the bank, Gorman will become executive chairman for a period, with a hands-on approach, should any turmoil resurge in the sector.
