So, who's left to take over from Morgan Stanley's James Gorman ?

James Gorman Pic

Morgan Stanley bid adieu to another senior executive who was thought to be on a list of potential successors to CEO James Gorman, but a new generation of CEO candidates is rising inside the bank.

Reuters reports that on Tuesday, Morgan Stanley announced that Chief Financial Officer Ruth Porat, 57, would be leaving at the end of April to head back to Silicon Valley where she has professional and personal roots, to become CFO of Google.

Porat's departure did not surprise other executives inside the bank, who pointed to her age - a year older than Gorman - and the belief that he may not leave for five more years.

Soon after Gorman took over in 2010, there were at least four contenders for his seat: Porat, Colm Kelleher and Paul Taubman, who jointly ran investment banking and trading, and Greg Fleming, whom Gorman brought in to run asset management, later adding wealth management to his responsibilities.

Two of those, Porat and Taubman, are gone or soon to be gone. The other two, Fleming, 52, and Kelleher, 57, may be too old to be CEO when Gorman retires, management experts and Morgan Stanley insiders said. 

To access the complete Reuters article hit the link below:

Morgan Stanley nurtures new brood of bankers in CEO succession plan

Fed's Bullard: now may be good time to normalize U.S. monetary policy

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts