1421 ET -- Morgan Stanley is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Chief Executive James Gorman said he is stepping down in the next year and expects a new CEO to be chosen within the next 12 months. He became CEO in 2010. Possible replacements include Andy Saperstein, co-president and head of wealth management; Ted Pick, co-president and head of institutional securities and co-head of corporate strategy; and Dan Simkowitz, head of investment management and co-head of corporate strategy. During Gorman's tenure, Morgan Stanley bought Solium Capital, E*Trade and Eaton Vance. Dow Jones & Co. owns Factiva. (josh.beckerman@wsj.com)

(END) Dow Jones Newswires

May 19, 2023 14:40 ET (18:40 GMT)

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