Morgan Stanley chief's exit mirrors MUFG leadership succession

New hands to manage alliance that James Gorman calls 'partnership for decades'

MUFG holds a roughly 22% stake in Morgan Stanley (Source photos by Tokuyuki Matsubuchi, Yo Inoue)

YUMIKO OSHIMA and HIROFUMI TAKEUCHI, Nikkei staff writers

May 23, 2023 00:31 JST

NEW YORK -- Outgoing Morgan Stanley CEO James Gorman presided over a deepening of the Wall Street bank's ties with Japan's Mitsubishi UFJ Financial Group for more than a decade, and his departure will mark a generational shift in leadership that has already begun on the MUFG side.