John Mack will step down as CEO of Morgan Stanley at the end of the year, but the former trader will remain chairman for at least two years, he said. "He was given a tough job. I think he handled it above average, and history will judge him a solid leader on Wall Street," said Matt McCormick, a banking industry analyst at Bahl & Gaynor. Co-President James Gorman, head of retail brokerage, will replace Mack as CEO.
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