Morgan Stanley announce raft of senior appointments
by Richard Kilner
Morgan Stanley (NYSE: MS) has announced a range of important appointments in key positions, effective from 1 January 2010 when James P. Gorman will become president and chief executive officer.
At that time John J. Mack will relinquish the post of CEO, but will stay on at the firm and retain his role as chairman.
Institutional Securities will gain two co-presidents, the first of whom is the former chief financial officer Colm Kelleher, who will be aided by Paul J. Taubman, formerly global head of Investment Banking.
Ex-global head of the Financial Institutions Group Ruth Porat will occupy the position of chief financial officer.
Thomas Nides will retain his position as chief administrative officer and also take on the role of chief operating officer.
Walid Chammah will act as adviser to new CEO Gorman, as well as keeping his responsibilities as chairman and CEO of Morgan Stanley International.
Charles Johnston, Ken deRegt and Gary Lynch will also retain their posts (president of Morgan Stanley Smith Barney, chief risk officer and chief legal officer respectively).