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Morgan Stanley Just Gave Its Senior Leadership Bigger Roles

December 12, 2016

[Photo:  From video on NYTimes.com / by CNBC - Davos 2016]

 

Morgan Stanley is giving its senior executives broader responsibilities when COO James Rosenthal steps down at year's end.  According to an internal memo signed by CEO James Gorman:

 

  • President Colm Kelleher will take over as Chairman and CEO of Morgan Stanley Bank, a national bank subsidiary of Morgan Stanley; Kelleher took over as sole president of the firm in January when his co-president, Greg Fleming, left.
  • CFO Jon Pruzan will now oversee strategy execution.
  • Vice Chairman Tom Nides will take over operations and corporate services
  • The technology division will report to Robert Rooney, who is the CEO of Morgan Stanley International.

 

Rosenthal has been with the firm since 2008 and announced in October he would retire at the end of the year. He will continue to serve as a senior adviser.