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Morgan Stanley defies bank diversity trend


Morgan Stanley defies bank diversity trend
The leadership changes announced Thursday position a slate of potential successors to CEO James Gorman who are mostly white and male.
May 20, 2021
4
MINS
After years of talking about the need for more equality on Wall Street, two of the biggest banks just previewed what the finance industry’s next generation of leaders will look like.
At Morgan Stanley, they’ll resemble the old guard.
Chief Executive James Gorman unveiled his biggest leadership change in over a decade, positioning a slate of potential successors that’s mostly white and male just as Wall Street’s bosses have been for decades. The group includes trading architect Ted Pick and wealth management leader Andy Saperstein, plus investment management’s Dan Simkowitz and new Chief Operating Officer Jon Pruzan. ....

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