What Morgan Stanley’s board is planning to name a successor to CEO James Gorman this summer

Why He announced his decision to leave the role within the year in mid-May

What Next Three internal candidates are front runners, but no decision has been taken

Morgan Stanley’s board is expected to focus on selecting a successor to CEO James Gorman during its upcoming meetings.

Gorman, who has led the bank since 2010, announced his plans to step down within a year, leading to speculation about the next CEO.

The board will consider three internal candidates: co-presidents Ted Pick and Andy Saperstein, with Pick slightly favored, and Dan Simkowitz, the head of investment management. However, no final decision has been made yet, Reuters reports.

Gorman aims to resolve major regulatory matters before his departure, including an investigation by the SEC and the US Attorney’s Office regarding block trading practices.

$3 million of Bitcoins

In January the Morgan Stanley Europe Opportunity Fund disclosed that it holds $3.6 million worth of GBTC. This stands for Grayscale Bitcoin Trust, which holds the actual bitcoins.

Overall the group has allocated 3% of its assets to bitcoin.

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