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Morgan Stanley chairman John Mack to retire at end of 2011

Morgan Stanley’s chairman John Mack will step down as chairman and leave the board of directors at the end of 2011. The widely expected move brings an end to a storied Wall Street career for Mack. The North Carolina native was CEO of Morgan Stanley from 2005 to 2009. Current CEO James Gorman will take over the chairman’s role.

 

Bailed-out banks' CEOs used jets for personal use: report

Chief executives of some banks that received federal money, including Bank of America Corp, Morgan Stanley and Regions Financial Corp, used company jets for their personal use, the Wall Street Journal reported on its website.

 

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