Morgan Stanley co-presidents Ted Pick and Andy Saperstein are widely viewed as the front-runners for the top job, with Pick seen as having a slight edge, the person said.
A Morgan Stanley spokesperson declined to comment, as did Gorman, Pick, Saperstein and Simkowitz when contacted directly.
SUCCESSION PLANNINGSince taking the helm, Australian-born Gorman, 64, has transformed Morgan Stanley through a series of major deals into a wealth management powerhouse that aims to manage $10 trillion in assets.
Pick, 54, heads Morgan Stanley's institutional securities group, overseeing areas including investment banking, equities and fixed income.
Saperstein, 56, is in charge of the wealth management unit that has bolstered Morgan Stanley's profits in recent years.
Persons:
Morgan Stanley's, James Gorman's, Gorman, Morgan Stanley, Ted Pick, Andy Saperstein, Pick, Dan Simkowitz, Morgan, Merrill Lynch, You've, you've, Peter Orszag, Kenneth Jacobs, JPMorgan Chase, Jamie Dimon, Brian Moynihan, Lananh Nguyen, Paritosh Bansal, Megan Davies, Jamie Freed
Organizations:
YORK, U.S . Securities, Exchange Commission, U.S, Attorney's, Southern, of, McKinsey, White House, JPMorgan, Bank of America, Thomson
Locations:
London, New York, of New York, Australian