FN London

Financial News

News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Investment Banking

Morgan Stanley shake-up leaves Kelleher as top lieutenant

Colm Kelleher's ascension leads to the departure of Gregory Fleming, a major Wall Street name long considered a future CEO of Morgan Stanley

By

Justin Baer, The Wall Street Journal

Colm Kelleher, president of institutional securities for Morgan Stanley, speaks during the 2013 Bretton Woods Committee International Council Meeting in Washington
Colm Kelleher, president of institutional securities for Morgan Stanley, speaks during the 2013 Bretton Woods Committee International Council Meeting in Washington Photo: Getty Images

Morgan Stanley co-president Gregory Fleming, a major figure on Wall Street who had long been considered a candidate to take over the firm, abruptly stepped down January 6 after another deputy’s promotion ended his bid to become chief executive.

Morgan Stanley CEO James Gorman named Colm Kelleher to be the firm's sole president and his successor should he leave the position unexpectedly.

WSJ Logo
GQG Launches Buyback After Stock Tumbles on Adani Probe

GQG Launches Buyback After Stock Tumbles on Adani Probe

Trump Considers Warsh Serving as Treasury Secretary—and Then Fed Chair

Large Accounting Firms Will Have to Submit Financial Statements to U.S. Regulator

Nvidia Is on Top but Does It Have Anywhere to Go but Down?

U.K. Consumers Cheerier Ahead of Holidays as Budget, U.S. Election Jitters Fade