James Gorman, chairman & CEO of Morgan Stanley, testifies before a House Financial Services Committee hearing on "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 Years After the Financial Crisis" on Capitol Hill in Washington, U.S., April 10, 2019.
read moreAhead of the hearing, Morgan Stanley was asked to assess its successes and failures recruiting a diverse workforce generally and at the senior executive level specifically.
"I acknowledge that progress in this area has been slow for us and we can and should do better," Gorman said.
Morgan Stanley faced criticism from some advocacy groups last week following a reshuffle of senior management which positioned four white men as potential successors to Gorman, who has run the bank since 2010. read moreAchieving greater diversity remains a key priority for Morgan Stanley, Gorman said.
The Senate Banking and House Financial Services committees will hear from the chief executives of JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N), Citigroup, Wells Fargo & Co (WFC.N), Goldman Sachs Group (GS.N) and Morgan Stanley on Wednesday and Thursday.
James Gorman, Morgan Stanley, Aaron P, Bernstein Morgan Stanley's, Gorman, Jane Fraser, Wells, Goldman
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