What's going on in Morgan Stanley's executive suite ?

The Lion King

Confused ? You will be.

Morgan Stanley is denying that its brokerage chief Greg Fleming has been told that he is the firm’s de facto No. 2 and heir apparent to CEO James Gorman.

Or is he?

Fox Business reports that a spokesperson for the big Wall Street firm offered contradictory statements Thursday on firm-wide speculation that Fleming has been guaranteed the top spot after the Gorman era is over.

According to the spokesperson, Gorman himself has not promised Fleming the top spot, but she wouldn’t deny that in the firm’s current succession plan, Fleming would be named CEO if Gorman somehow left.

“I have no comment,” the spokesperson said when asked if Fleming has been chosen to lead Morgan Stanley under succession circumstances.

“The rumour that James Gorman has informed Fleming he is the de facto No. 2 is false,” the spokesperson added. But when asked to deny that Fleming is already the de facto No. 2 at the firm and doesn’t need to be told by Gorman, the spokesperson had no comment.

To access the complete Fox Business article hit the link below:

What Morgan Stanley Is and Isn’t Saying About Greg Fleming

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