Morgan Stanley bets on smaller bond unit, defying skeptics

In early 2011, Morgan Stanley Chief Executive James Gorman thought he had finally figured out how to rebuild the bank`s depleted bond trading business without taking too much risk.

Morgan Stanley CEO to receive $10.5 million

Morgan Stanley Chief Executive James Gorman was awarded a USD 10.5 million bonus for 2011, down 25 percent from the previous year, according to a source familiar with the matter.

Morgan Stanley Chairman Mack to retire at year-end

Morgan Stanley Chairman John Mack, whose sharp elbows and aggressive cost-cutting tactics earned him the nickname "Mack The Knife," will step down at the end of the year, fully handing the reins to Chief Executive James Gorman.