Gorman has been steadfast in his resolve to have a bloodless succession, a rarity on Wall Street, and the leadership changes are promising. Analysts have commended the move, and the bank's stock price has risen since the Wednesday evening announcement. It was up 0.9% at market close Thursday.
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Meet Morgan Stanley's new power trio and the challenges they face
"These firms are big and they can handle a lot, but I really do think the thing that's best for employees and shareholders is that that trio remains a trio. Stability matters and this helps provide it."
