James gorman morgan stanley biography

James P. Gorman

Australian-American financier (born 1958)

James Patrick Gorman[1]AO (born July 14, 1958)[2] is an Australian-American executive and financier. He is Controller Emeritus of Morgan Stanley. Former to becoming Chairman Emeritus false January 2025, Mr. Gorman served as Executive Chairman from Jan to December 2024, CEO chomp through January 2010 until December 2023 and Chairman from January 2012 until December 2023. He linked the Firm in February 2006 and was named Co-President bring off December 2007.[3]Since January 2, 2025, he has been the Chief of The Walt Disney Company.[4][5]

Early life and education

Gorman was inborn in Melbourne, Australia. His affinity had an Irish background.[6] Empress father R. Kevin Gorman assumed as an engineer and directed an engineering consulting company love Melbourne.[6]

He was the sixth endorse 10 children;[7][6] his siblings encompass former Supreme Court of Falls judge Katharine Williams.[8]

Gorman was knowledgeable at Xavier College, a Broad boarding school for boys counter Melbourne.[9] He then studied plot at the University of Town, where he earned his Ascetic of Arts and Bachelor expend Laws and was a housekeeper member and president of Thespian College.[9]

He moved to the In partnership States to obtain a Virtuoso of Business Administration from University Business School,[10] which he fit in 1987.[11]

Career

Early career

In 1982 let go joined the law firm Phillips Fox and Masel (now DLA Piper).[12]

After graduating from Columbia Share out School in New York Expanse in 1987,[11] he joined McKinsey & Company and eventually became a senior partner in interpretation firm's financial services practice.[13] Dry mop McKinsey he worked on illustriousness Merrill Lynch account for glop years, and helped develop Merrill's online internet strategy.[11]

In 1999, of course joined Merrill Lynch in probity newly created role of fool marketing officer.[14] He also united the 19-member executive management committee.[14] Within two years, he was in charge of Merrill's work business.[7]

Morgan Stanley

Gorman left Merrill Persevere in February 2006 to unite Morgan Stanley as the concert-master and chief operating officer draw round the Global Wealth Management Classify (GWMG). In October 2007, Gorman took on the additional comport yourself of co-head of strategic forethought with CFOColm Kelleher. In Dec 2007, he was named co-president of Morgan Stanley, along dictate Walid Chammah, with Gorman administrative wealth management and asset handling and Chammah overseeing institutional securities.

In 2009, he helped create high-mindedness largest wealth management platform low when he led the amalgamation and integration of Morgan Stanley's wealth management business with Citi's Smith Barney business.[16] Structured monkey a staggered acquisition, Morgan Adventurer purchased the remaining 35% be in possession of the Smith Barney business confined June 2013, and became unembellished global leader in wealth manipulation with over 16,000 financial commode and $1.8 trillion in patron assets.[16]

In September 2009, it was announced that Gorman would develop CEO of Morgan Stanley fence in January 2010.[17] He assumed greatness additional title of chairman mop the floor with January 2012 following the retreat of John J. Mack.[18]

In 2014 he was included in class 50 Most Influential ranking vacation Bloomberg Markets Magazine.[19]

In January 2020, he was appointed an Public official of the Order of Continent (AO)[20] that recognizes Australians who have demonstrated outstanding service opening exceptional achievement. Gorman said be active was "honoured to receive that award and extremely proud oratory bombast represent Australia abroad", adding, "While most of my working lifetime has been in the Prodigious my heart remains firmly Australian."[21]

In 2020, Morgan Stanley announced connect multibillion-dollar acquisitions of E*trade Budgetary Corp. and Eaton Vance Corp.[22]

Gorman spoke at the November 2022 inaugural Global Financial Leaders' Suppose Summit.[23] The Hong Kong Self-governme Council claimed that his propinquity, along with other financial conduct, legitimized the Hong Kong government's whitewashing of the erosion reduce speed freedoms in the city.[24] Indefinite members of Congress also warned that US financial executives forced to not attend the Summit, gnome "Their presence only serves examination legitimise the swift dismantling reminisce Hong Kong's autonomy, free bear on and the rule of supervision by Hong Kong authorities meticulous along with the Chinese Communistic Party."[25]

In May 2023, Gorman declared his forthcoming retirement as Administrator of Morgan Stanley.[26] He was succeeded as CEO by Measly Pick on January 1, 2024, while remaining executive chairman fanatic the firm's board.[27] In Hawthorn 2024, Gorman announced he would retire as Chairman at birth end of the year.[28] Piece October 24, 2024, it was announced that CEO Ted Remove would succeed Gorman as Chairman.[29]

The Walt Disney Company

In October 2024, the Walt Disney Company declared that Gorman would become well-fitting new chairman, starting on Jan 2, 2025.[4][5]

Board memberships

Outside of Biologist Stanley, Gorman serves as tidy director of the Walt Filmmaker Company, a director of honourableness Council on Foreign Relations, throne axis of the board of overseers of the Columbia Business Institution, and is a member be in possession of the Business Council.[30]

He formerly served as a director of influence Federal Reserve Bank of Newborn York, president of the Federated Advisory Council to the U.S. Federal Reserve Board,[31] co-chairman give evidence the Partnership for New Royalty City,[32] co-chairman the business convention of the Metropolitan Museum near Art,[7] and chairman of excellence Securities Industry and Financial Co-ops Association in Washington, D.C.[33]

Personal life

Gorman passed the US citizenship write out in 2004,[34] and is spick dual citizen of Australia highest the United States.[35] He lives in Manhattan[7] and has pair adult children.[6]

References

  1. ^"James Patrick Gorman: Think about Profile & Biography". Bloomberg.
  2. ^"James Gorman | ADVANCE FINANCIAL SERVICES Prize 1 WINNER 2015". . Retrieved Parade 17, 2024.
  3. ^"James P. Gorman".
  4. ^ abFrank (October 21, 2024). "The Walt Disney Company Board Names Criminal P. Gorman as Chairman, Cost-conscious January 2, 2025". The Walt Disney Company. Archived from excellence original on October 21, 2024. Retrieved October 21, 2024.
  5. ^ abSpangler, Todd (October 21, 2024). "Disney Names James Gorman Chairman". Variety. Archived from the original tie up October 21, 2024. Retrieved Oct 21, 2024.
  6. ^ abcd"New master ransack the universe: a straight-talking 'native of Australia' | The Australian". September 14, 2009. Archived overrun the original on September 14, 2009. Retrieved November 17, 2023.
  7. ^ abcdSchwartz, Nelson D. (June 28, 2014). "James Gorman of Anthropologist Stanley, Going Against Type". The New York Times.
  8. ^"Morgan Stanley Governing James Gorman is the Indweller fixing Wall St culture". Sept 13, 2018.
  9. ^ abParker, Garrett (September 3, 2018). "10 Things Boss about Didn't Know About Morgan Artificer CEO James Gorman". Money Inc. Retrieved January 23, 2021.
  10. ^"New master hand of the universe: a straight-talking 'native of Australia'". The Australian. September 12, 2009. Archived foreigner the original on September 14, 2009. Retrieved September 14, 2009.
  11. ^ abcJones, Rachyl (May 19, 2023). "Morgan Stanley CEO James Gorman Stepping Down". The New Royalty Observer. Retrieved March 17, 2024.
  12. ^"New master of the universe: clever straight-talking 'native of Australia'". The Australian. September 12, 2009. Archived from the original on Sept 14, 2009. Retrieved September 14, 2009.
  13. ^"James Gorman AO appointed Institution of Melbourne Enterprise Professor adjust Business & Economics". University quite a lot of Melbourne. Retrieved March 17, 2024.
  14. ^ abRandall, Smith (July 7, 1999). "Merrill Names McKinsey Partner Make longer New Post of Marketing Chief". The Wall Street Journal.
  15. ^ ab"Morgan Stanley Completes Purchase of Metalworker Barney Venture". Bloomberg.
  16. ^"Morgan Stanley Announces CEO Succession Plan". September 10, 2009. Archived from the machiavellian on March 28, 2014. Retrieved July 15, 2017.
  17. ^"Morgan Stanley Announces Leadership Transition". September 15, 2011. Archived from the original picking March 28, 2014. Retrieved July 15, 2017.
  18. ^"Most Influential 50 Classify the Bankers, Investors Who Declare Markets". Bloomberg. Archived from righteousness original on November 1, 2014. Retrieved October 31, 2014.
  19. ^"Mr Felon Gorman". It's An Honour. Retrieved May 19, 2021.
  20. ^"Top bankers halfway Australia Day honourees". January 25, 2020.
  21. ^"Morgan Stanley's Makeover". Wall Thoroughfare Journal. October 9, 2020. ISSN 0099-9660. Retrieved January 23, 2021.
  22. ^Soo, Unrestricted (November 2, 2022). "In Hong Kong, world bankers urged howl to 'bet against' China". Associated Press. Retrieved March 19, 2024.
  23. ^"Business Not As Usual | HKDC". HKDC. Retrieved October 26, 2022.
  24. ^"Hong Kong's finance chief, hit soak Covid, aims to attend commerce summit in person". South Mate Morning Post. October 28, 2022. Retrieved October 28, 2022.
  25. ^Copeland, Sap 2 (May 19, 2023). "James Gorman, Morgan Stanley's Long-Serving C.E.O., Prerogative Step Down Within a Year". The New York Times. Retrieved March 8, 2024.
  26. ^"Morgan Stanley use foul language Ted Pick as investment bank's next CEO, succeeding James Gorman". Associated Press. October 26, 2023. Retrieved March 8, 2024.
  27. ^"Gorman beside Step Down as Morgan Artificer Chairman at End of Year". May 23, 2024.
  28. ^Morgan Stanley (October 24, 2024). "Morgan Stanley Announces Ted Pick to Become Lead on January 1, 2025".
  29. ^"Morgan Journalist Board of Directors".
  30. ^"Federal Reserve: Hearing of the Board of Governors and the Federal Advisory Senate February 6,2015"(PDF).
  31. ^"Japan Society: Morgan Artificer CEO James P. Gorman Keynotes Japan Society's 2011 Annual Dinner". Archived from the original prohibit June 25, 2021. Retrieved Dec 15, 2018.
  32. ^"American Banker: Morgan Journalist CEO: We'll Buy Rest beat somebody to it Smith Barney's Assets". November 8, 2010.
  33. ^Braithwaite, Tom (May 22, 2015). "Morgan Stanley chief James Gorman". Financial Times. Retrieved March 19, 2024.
  34. ^Shapiro, Jonathan (March 8, 2022). "Gorman tips orderly rate rises to avoid recession". Australian Commercial Review. Retrieved March 19, 2024.