Abigail with attitude: What has Morgan Stanley's Gorman achieved after 3 years at the top?

By:
Abigail Hofman
Published on:

Pandit and Havens used to work at Morgan Stanley. In fact, at one time, Pandit was president of the firm. As James Gorman struggles with John Mack’s legacy, a wild thought crosses my mind. Might Pandit one day return to run his alma mater? Over at Morgan Stanley, Gorman is facing the third anniversary of his ascension to the chief executive throne. And the going has not been easy.

"It’s a mixed bag," a source grumbled. "Revenues are probably a bit light. Costs are arguably too high and they have too much capital, so the return on equity is poor. You have to...