Morgan Stanley CEO Gorman to hand reins to successor within a year 

Reuters was first to report that Morgan Stanley CEO James Gorman planned to step down within 12 months. The major leadership change at the top of the Wall Street powerhouse prompted succession questions for other prominent finance bosses, including JP Morgan CEO Jamie Dimon. Morgan Stanley’s stock fell more than 1% at the open and closed almost 2.7% lower after Gorman announced his succession plans at the bank’s annual shareholder meeting.