Morgan Stanley CEO, John Mack, announced his retirement yesterday (effective in the Spring of 2010), and named his replacement, James Gorman.
Gorman joined Morgan Stanley in 2006 as Jefe of Global Wealth Management and was named co-president of MS in 2007. Prior to Morgan, Gorman held several positions at Merrill Lynch.
Bloomberg sat down with Gorman in June to discuss executive compensation, clawbacks, TARP repayment and Wall Street criminality. Repayment of AIG counterparty, conduit payments was not discussed.
Short clip...start watching at the 1:45 mark. And for the record, Daniel Simkowitz, head of Global Capital Markets for MS should have gotten the nod as CEO.
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Longer clip...complete Gorman interview.