James P. Gorman
James Gorman | |
|---|---|
| Born | July 14, 1958 Melbourne, Australia |
| Nationality | Australian-American |
| Occupation(s) | Businessman, financier |
| Years active | 1982–present |
| Known for | Chairman of The Walt Disney Company; former CEO and Chairman of Morgan Stanley |
James Patrick Gorman (born July 14, 1958) is a businessman and financier holding dual Australian-American nationality. He currently holds the title of Chairman Emeritus at Morgan Stanley. Prior to this role, he served as Executive Chairman from January to December 2024, CEO from 2010 through 2023, and Chairman between 2012 and 2023. Gorman began his tenure at Morgan Stanley in February 2006, advancing to Co-President by December 2007. Since January 2, 2025, he has been serving as Chairman of The Walt Disney Company.
Early life and education
Born in Melbourne, Australia, Gorman comes from a family with Irish roots. His father, R. Kevin Gorman, was an engineer who led an engineering consultancy based in Melbourne. As the sixth child among ten siblings, his family includes notable figures such as former Supreme Court of Victoria judge Katharine Williams.
He received his early education at Xavier College, a Catholic boarding institution in Melbourne. Gorman then pursued higher education at the University of Melbourne, where he earned both a Bachelor of Arts and a Bachelor of Laws degree, also serving as president of Newman College. Later, he relocated to the United States to obtain an MBA from Columbia Business School, graduating in 1987.
Early career
Gorman’s professional journey began in 1982 when he joined the law firm Phillips Fox and Masel (currently known as DLA Piper). After completing his MBA at Columbia Business School in 1987, he entered McKinsey & Company, rising to senior partner within its financial services division. During his decade-long involvement with McKinsey, he managed the Merrill Lynch account and played a key role in shaping Merrill’s online business strategy.
In 1999, Gorman transitioned to Merrill Lynch as chief marketing officer and became part of its executive management committee. Within two years, he advanced to lead Merrill’s brokerage operations.
Morgan Stanley
In February 2006, Gorman departed Merrill Lynch to join Morgan Stanley as president and chief operating officer of the Global Wealth Management Group (GWMG). By October 2007, he assumed additional responsibilities as co-head of strategic planning alongside CFO Colm Kelleher. In December that year, he was appointed co-president with Walid Chammah, overseeing wealth and asset management sectors while Chammah managed institutional securities.
Gorman spearheaded the 2009 merger between Morgan Stanley’s wealth management division and Citi’s Smith Barney, forming the largest global wealth management platform. By June 2013, Morgan Stanley had acquired the remaining 35% stake in Smith Barney, resulting in a network comprising over 16,000 financial advisors managing $1.8 trillion in client assets.
Announced in September 2009, Gorman took on the role of CEO at Morgan Stanley starting January 2010 and later added chairman to his titles in January 2012 following the retirement of John J. Mack. In 2014, he was recognized among Bloomberg Markets Magazine’s list of the 50 Most Influential individuals.
In January 2020, Gorman was honored as an Officer of the Order of Australia (AO) for exceptional service and accomplishments. That same year saw Morgan Stanley expand its wealth management capabilities through acquisitions of E*Trade Financial Corp. and Eaton Vance Corp.
At the inaugural Global Financial Leaders' Investment Summit held in November 2022, Gorman was a featured speaker. His participation attracted criticism from organizations such as the Hong Kong Democracy Council and members of the United States Congress, who expressed concerns about endorsing issues related to Hong Kong’s diminishing autonomy under the national security law.
In May 2023, Gorman announced his intention to retire from his CEO position at Morgan Stanley. Effective January 1, 2024, he was succeeded by Ted Pick but continued as executive chairman. He also declared plans to step down as chairman by the end of 2024. On October 24, 2024, it was confirmed that Ted Pick would assume the chairman role starting January 1, 2025.
The Walt Disney Company
In October 2024, it was announced that Gorman would assume the role of chairman at The Walt Disney Company, starting January 2, 2025.
Board memberships
In addition to his position at Morgan Stanley, Gorman is a board member of The Walt Disney Company and the Council on Foreign Relations. He also leads as chair of the board of overseers at Columbia Business School. Furthermore, he participates in the Business Council. His past leadership experience includes serving as a director for the Federal Reserve Bank of New York, president of the Federal Advisory Council to the U.S. Federal Reserve Board, co-chair of the Partnership for New York City, co-chair of the business committee at the Metropolitan Museum of Art, and chairman of the Securities Industry and Financial Markets Association.
Personal life
Gorman obtained U.S. citizenship in 2004 and holds both Australian and American nationalities. He lives in Manhattan with his two grown children.