Once Seen As CEO Contender, Morgan Stanley's Chief Operating Officer Retires After 29 Years

Morgan Stanley MS Chief Operating Officer Jonathan Pruzan is retiring after 29 years at the bank, effective January 31, 2023.
Jon Pruzan was once considered a potential candidate to succeed James Gorman as chief executive officer.
Morgan Stanley named Mr. Pruzan operations chief in May 2021 as part of a broader executive reordering meant to “reflect the next generation of leadership at Morgan Stanley,” Mr. Gorman said.
Mr. Gorman is one of Wall Street’s longest-serving CEOs. Around the time of the 2021 shuffling, he told the bank’s board that he planned to stay in the CEO job for at least three more years, the Wall Street Journal reported.
Also read: Morgan Stanley Sees Slowing Business, Downsizes 2% Workforce.
Mr. Pruzan “has been a trusted advisor to me for many years and has had a seat at the table and a voice in the decision-making process for many of the key decisions that the Firm has made over the past decade,” Mr. Gorman said in a memo to Morgan Stanley staff.
Before becoming operating chief in 2021, Mr. Pruzan was Morgan Stanley’s chief financial officer.
Price Action: MS shares traded 0.37% lower at $87.32 premarket on the last check Tuesday.