Morgan Stanley's James Gorman will resign as CEO within the year

James Gorman, who has held the top stop at Morgan Stanley for the past 13 years, is about to call it quits. Gorman announced he will leave the company within the next 12 months Friday at the company’s annual shareholder meeting, according to several reports. While no successor has been named, Gorman said the company has identified three “very strong senior internal candidates” for the role. “The specific timing of the CEO transition has not been determined, but it is the board’s and my expectation that it will occur at...