May 23, 2024

DealBook: Blogging Morgan Stanley’s Annual Meeting

Morgan Stanley

There was no shortage of good topics on which shareholders can grill Morgan Stanley’s chief executive, James P. Gorman, at the firm’s annual meeting on Wednesday in Purchase, N.Y.

Mr. Gorman’s campaign to rebuild Morgan Stanley has been slow-going.

He has made some progress repairing crucial business lines. In April, he renegotiated a deal governing an expensive lifeline the firm took to bolster its balance sheet during the financial crisis.

But the firm’s stock, currently trading at about $24 a share, continues to struggle. It is 10 percent lower than when shareholders gathered for last year’s annual meeting.

DealBook was on hand for the meeting, which was held this morning. What follows is a blog of the event.

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