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WALLSTREET

Morgan Stanley C.E.O. James Gorman has set up a ‘Succession’-like race to succeed him.
William D. Cohan • May 24, 2023

Gorman’s Goodbye: Inside a C.E.O. Succession Bake-Off

I talk to a lot of well-wired people inside Morgan Stanley all the time: here’s what’s going to happen next. Plus notes on succession planning inside my old stomping grounds: Lazard and JPMC.
William D. Cohan • May 21, 2023
Lazard Succession, Iger’s ESPN Move, & Netflix’s Ozempic
Peter Orszag will likely take the reins from Ken Jacobs as C.E.O. of Lazard.
News and notes on the latest intrigue swirling around the Sconset set and Gin Lane weekend crowd: what’s next for Lazard, my old stomping grounds; Iger’s ESPN calculation; and late-breaking SVB lessons.
William D. Cohan • May 17, 2023
Fade to Blackstone
A division of Steve Schwarzman’s Blackstone Group more or less pulled the plug recently on 1740 Broadway, a 26-story building between 55th and 56th streets.
Insights into a REIT headache, and some of the craftiest investors who are seeing around the corner.
“Bankman-Fried,” his lawyers stated, “has not defrauded anyone, nor intended to defraud anyone.”
Eriq Gardner • May 15, 2023
S.B.F.’s Varsity Blues Defense
Lawyers for Bankman-Fried are hoping to turn a seemingly slam-dunk prosecution into an inscrutable legalistic debate over the definition of “fraud,” itself. It might just work.
William D. Cohan • May 14, 2023
Iger’s Existential Question
There’s no erasing his historic earlier tenure at Disney, but the company is looking increasingly vulnerable, especially since Iger’s last big deal will likely be the $9 billion he’d spend to buy Hulu.
Under the leadership of Ken Jacobs, who has been extremely well paid, Lazard has grown bigger and more robust. But its stock has underperformed badly.
William D. Cohan • May 10, 2023
Lazard Times
How Wall Street’s most mysterious, enigmatic, and flamboyant firm—“l’haute banque d’affaires vis-à-vis the world”—was brought down by fate and tragedy, and what it can do to become exceptional again.