Via Financial Times

Morgan Stanley chief executive James Gorman was diagnosed with coronavirus last month but has since been given the all clear, staff were told on Thursday morning. 

The 61-year-old, who has run Morgan Stanley for a decade, announced his illness and recovery around the eighth minute of a 10-minute video posted on the bank’s intranet early Thursday.

A Morgan Stanley spokesman said the firm had considered making his illness public sooner, but decided it was not material to the bank’s operations since his symptoms were not severe and he was able to continue with his duties throughout. 

The bank’s board was informed of Mr Gorman’s diagnosis immediately after he tested positive, the spokesman added. 

Members of the operating committee that runs Morgan Stanley were also told, and the bank traced Mr Gorman’s close contacts and directed them to self-quarantine in line with health guidelines. 

Mr Gorman has not been to the office since he begun experiencing flu-like symptoms in mid-March and remains in self-isolation at his New York apartment after getting the all clear from his doctors a week ago.

He has been holding daily calls with the firm’s operating committee from there, along with several virtual meetings of the bank’s board of directors. 

The Australian is the only Wall Street chief executive to confirm he has had coronavirus. Peg Broadbent, chief financial officer of Jefferies, died from the disease at the age of 56 in late March. The investment bank did not disclose his condition until it announced his passing.

Elsewhere in corporate America, Howard Willard, chief executive of tobacco group Altria, announced his coronavirus diagnosis on March 20 and said he was taking a temporary leave of absence. 

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Some corporate leaders in other countries have made proactive disclosures, including Philip Jansen, chief executive of British telecom group BT, who said on March 12 that he had the virus and would run the company remotely.