Gorman to Lead Morgan Stanley; Should Become CEO in 2010

"James has a long track record of developing aggressive strategies backed by strong operating skills and relentless execution. He is a proven leader who has shown the ability to attract and retain top talent throughout his career," Kidders shares.

"During the past two decades, James has worked in virtually every aspect of the financial services industry. As Co-President of the Firm since 2007, he has been central to our success in the most challenging period in history and served as a key architect of Morgan Stanley's strategy. He led dramatic turnarounds of major businesses at both Merrill Lynch and Morgan Stanley, and this year forged the world's largest wealth management business with the Smith Barney joint venture," Kidder notes.

"We are confident that with James Gorman as CEO and John Mack as Chairman, Morgan Stanley will continue building our premier franchises in investment banking as well as sales and trading, grow market share across all key businesses and deliver tremendous value for our clients, colleagues and shareholders," concludes Kidder.