The race to the top ended in October at Morgan Stanley with the appointment of Ted Pick to replace James Gorman as CEO, and bets are on for Larry Fink’s successor.

“There seems to be a lot more attention — from a governance point of view — to succession planning,” said George Wilbanks.

Substantive succession plans suggest “you’ve recruited people over time to build a bench that is strong enough that you’ve got the option to promote internally, [and] you’ve retained people,” he added.

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