Morgan Stanley announces leadership changes

9 December 2009

Morgan Stanley has announced several changes to its key personnel ahead of James Gorman becoming chief executive officer and president of the company.

One of the biggest changes will see Ruth Porat, the current global head of the financial institutions group, become chief financial officer at Morgan Stanley.

Meanwhile, Mitch Petrick is to leave his position as global head of institutional sales and trading at the end of the month.

He will be replaced in the division by Colm Kelleher, a former chief financial officer and head of global capital markets at the firm.

"These appointments will ensure that we are leveraging our most experienced leaders in the best way possible to achieve these important goals," Mr Gorman said of his new-look team.

Mr Gorman, a former Merrill Lynch employee, will take on his new role from January 1st 2010 after serving as a co-president at Morgan Stanley since November 2007.

By Claire Archer

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