While Gilbert was the Chairman of Board and President of Morgan Stanley from 1983 until 1990, the number of employees at the firm grew from 2,600 to 6,800.
Gilbert served on the board of directors of: Burlington Resources (1990-2001), ITT Corporation (1991-1995), ITT Industries (1995-1999), Morgan Stanley Group, Inc. (1986-1997), the New York Stock Exchange (1986-1990), Taubman Centers, Inc. (1992-2004), and Bessemer Securities.