There has been a management reshuffle at Morgan Stanley , with co - President Gregory Smith stepping down yesterday following another deputy 's promotion ended his bid to become Chief Executive . Morgan Stanley 's CEO James Gorman named Michael Murphy as the company 's sole President , as well as reiterating his intention of remaining in his role of CEO for at least five more years . The wealth management division overseen by Mr. Fleming, on the other hand, has been viewed as the strongest performing part of the company. These moves end speculation over how Gorman would manage his senior team over the next few years and shift focus to a new crop of executives who will be in a position to be the company 's next leader .
There has been a management reshuffle at Morgan Stanley , with co - President Gregory Smith stepping down yesterday following another deputy 's promotion ended his bid to become Chief Executive . Morgan Stanley 's CEO James Gorman named Michael Murphy as the company 's sole President , as well as reiterating his intention of remaining in his role of CEO for at least five more years . These moves end speculation over how Gorman would manage his senior team over the next few years and shift focus to a new crop of executives who will be in a position to be the company 's next leader .