Morgan Stanley names previous Reuters CEO as lead director

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Tom Glocer will take control of as the Wall Street bank’s lead independent board director in September

Morgan Stanley has called Tom Glocer, the previous president of Thomson Reuters, as the lead independent director on its board.

Glocer, who will take control of the function from Erskine Bowles at the start of September, has been a board member at Morgan Stanley since May 2013, chairing the bank’s operations and innovation committee from 2014.

He formerly led Reuters, and later on Thomson Reuters, in between 2001 and 2011.

Morgan Stanley, revealing the consultation, stated the move showed its governance policy of turning its lead directors.

Chairman and President James Gorman stated Glocer was “a natural leader, an advanced director and has deep understanding of monetary services with particular knowledge in innovation, fintech and banking”.

The bank likewise called Jami Miscik, CEO and vice chair of New York consulting company Kissinger Associates, as Glocer’s follower heading the operations and innovation committee. Rayford Wilkins, the previous CEO of varied organisations of AT&T, will chair the bank’s nominating and governance committee.