James Gorman assumed the role of Morgan Stanley CEO in January 2010 in the wake of the financial crisis, with regulatory changes imminent. Gorman brought an analytic approach to his new position, confronting both internal and industry-wide change. As Gorman concluded his second year as CEO, he was confident that his strategies would deliver for both shareholders and clients. In this case, students are asked to access Gorman’s performance as CEO in the context of organizational change theories presented in an appendix to the case.