Morgan Stanley CEO: too early to consider restarting share buy backs

NEW YORK (Reuters) – Morgan Stanley’s Chief Executive Officer James Gorman told shareholders at its annual meeting on Thursday that it is too early for him or the board of directors to consider reinstating bank’s share buy back program.

Shareholders at the meeting, which was held virtually due to the coronavirus pandemic, voted to back reelection of Gorman and the rest of the bank’s directors, and also to support the bank’s executive compensation plan, according to initial tallies of the votes.

(Reporting By Elizabeth Dilts Marshall; Editing by Chizu Nomiyama)