Morgan Stanley

James Gorman will step down as Morgan Stanley chair at year end, concluding an era in which the firm nearly failed before evolving into a wealth management leader.

Arbitration panels and courts have already shown openness to arguments that deferred compensation is protected under federal retirement law.

Industry experts who track comings and goings at large firms say the advisor staff figures often obscure more than they reveal.

Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.

The firm's wealth management business saw strong new assets inflows in the first quarter, particularly from its business catering to family offices.

The SEC, the Office of the Comptroller of the Currency and other Treasury Department offices arre all looking into the Wall Street giant's anti-money laundering measures.

FP's annual ranking displays the impact of big one-time awards for four executives and a look at which chiefs netted the biggest increases and decreases in 2023.

The lawyers representing the claimants in a recent FINRA arbitration case say they have scores of clients still seeking to secure pay they contend they're owed after departing for another firm.

Alison Nest says wealth managers can play a particularly useful role in helping investors navigate the intricacies of private equity, private credit and similar investments.

Jeff McMillan will be in charge of marshaling the firm's investments in artificial intelligence to drive efficiency.