Education
University of Melbourne. Columbia University; Columbia Business School.
University of Melbourne. Columbia University; Columbia Business School.
He was formerly Company-President and Company-Head of Strategic Planning at the firm. Gorman joined Morgan Stanley in February 2006 as the President and Chief Operating Officer of the Global Wealth Management Group (GWMG). In October 2007, Gorman took on the additional role of Company-Head of Strategic Planning with Chief Financial Officer Colm Kelleher.
In December 2007, he was named Company-President of Morgan Stanley, along with Walid Chammah, with the day-to-day responsibility for Wealth Management and Asset Management.
In September 2009, it was announced he would become Chief Executive Officer of Morgan Stanley in January 2010. He also assumed the title of Chairman in January 2012 following the retirement of John Jay Mack.
Press reports indicate his compensation as Chairman and Chief Executive Officer was $9.75 million for 2012, with the New York Times reporting an increase to $18 million in 2013. In 2009, he helped create the largest wealth management platform globally when he led the merger and integration of Morgan Stanley’s wealth management business with Citi’s Smith Barney business.
Structured as a staggered acquisition, Morgan Stanley purchased the remainder of the joint venture in June 2013, and is a global leader in wealth management with over 16,000 financial advisors and $1.8 trillion in client assets.
Prior to joining Morgan Stanley in February 2006, Gorman held a succession of executive positions at Merrill Lynch, including leading from 2001 to 2005 the company’s United States. and, subsequently, global private client businesses. He joined Merrill Lynch in 1999 as Chief Marketing Officer, and also served as head of Strategy and Research. In 2014 he was included in the 50 Most Influential ranking of Bloomberg Markets Magazine.
Before joining Merrill Lynch, Gorman served as a senior partner of McKinsey & Company, where he was a member of the financial services practice, and as an attorney in Melbourne.