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Morgan Stanley CEO contender Pruzan set to retire

Bank says the chief operating officer’s departure will be effective at month’s end

Morgan Stanley chief operating officer Jonathan Pruzan is retiring after 29 years at the bank, narrowing a race to succeed chief executive James Gorman.

Pruzan, 54, will step down on 31 January, the Wall Street firm said in a Securities and Exchange Commission filing on 9 January.

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