The power behind the throne at Morgan Stanley — here's who is in line to replace CEO James Gorman by Frank Chaparro on Jul 30, 2018, 10:56 AM Advertisement
 - The announcement that Goldman Sachs CEO Lloyd Blankfein will step down this fall has sparked new interest in succession planning at uptown rival Morgan Stanley.
- Morgan Stanley CEO James Gorman has been in his role since 2010 and he isn't likely to step down for another three to five years, sources told Business Insider.
- Still, the firm's board has already drawn out a list of potential successors to Gorman.
Goldman Sachs made headlines earlier this month when it announced president David Solomon would succeed Lloyd Blankfein as the investment bank's CEO in October. That ended months of speculation about when Blankfein would give up the reigns of the white-shoe firm. It also has sparked interest in who might succeed James Gorman, CEO of its uptown rival, Morgan Stanley, who has held the chief executive role for the past eight years and is credited with transforming the bank into a wealth management powerhouse. Business Insider has learned that Gorman, 60, will likely stay at the firm as chief executive office for an additional three to five years. In the short term, if Gorman were to step down for an unexpected reason, he would likely be replaced by Colm Kelleher, the president of the bank, sources said. But the company does have a short list of other senior executives who are likely contenders to succeed Gorman. A spokeswoman for Morgan Stanley declined to comment on the bank's succession plans. Here's the list: SEE ALSO: Goldman Sachs just named its next CEO — here are the execs who will be in and out, according to a dozen insiders Franck Petitgas - Cohead of international  Frenchman Franck Petitgas, 57, who has served as Morgan Stanley's global co-head of investment banking for years, was elevated this month to head the firm's international business. Based in London, Petitgas joined Morgan Stanley in 1993 and was appointed to cohead investment banking alongside Mark Eichorn in 2012. He was considered a dark horse candidate for the chief financial officer position in 2013.
Ted Pick - Head of institutional securities group  Ted Pick, 49, who was responsible for turning Morgan Stanley's equities business into the top stock trading franchise on Wall Street, was promoted alongside Petitgas in July. He will now oversee the Institutional Securities Group, which spans sales and trading and investment banking. Pick spent most of his career in equities, and is credited with the bank's successes in the business in the aftermath of the financial crisis. He's also known for having a sailor's mouth on the trading floor. During his time at the bank, he played a role in some of the largest stock sales, including an auction by Google and the initial public offering of China Construction Bank. In 2015 he was given responsibility for turning around the bank's struggling fixed income unit. That business has since rebounded, and in the first three months of 2018 it posted its best results in three years.
Jonathan Pruzan - Chief financial officer  Jonathan Pruzan, 49, was appointed chief financial officer of Morgan Stanley in 2015, replacing Ruth Porat who left for the same role at Google. Pruzan has been with the firm for nearly 20 years. Prior to becoming CFO, he coheaded the financial institutions group, serving as a banker to banks on mergers and acquisitions, restructurings and capital raising. He also helped financial firms navigate a new regulatory landscape, including the Federal Reserves required annual stress tests. During his time on Wall Street, Pruzan has advised on some of the largest transaction in history, including Bank of America's $48 billion acquisition of FleetBoston Financial Corp. He started his career at PaineWebber in 1990 after graduating from Tufts University.
See the rest of the story at Business Insider
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