Career moves

In wide-ranging interview, CEO James Gorman warns that proposed banking rules would drive up interest rates for first-time homebuyers.

As it seeks to bolster its U.S. presence, the Canadian bank's wealth management subsidiary has been one of the most active recruiters in the industry in recent years.

Two frontrunners have emerged as possible successors to the long-serving CEO, but even more potential candidates wait in the wings.

Recruiters see the banking giant's offering as central to its bid to retain top teams and prevent them from going independent.

Apollo and other alternative asset managers are vying for executives with connections to the world's biggest fortunes.

Williams, a former Chicago Bulls basketball player who was the second overall pick in the 2002 NBA draft, co-founded Simatree, a strategic advisory firm focused on data, analytics and technology consultation.

The change comes over massive overhaul as the mega bank seeks to build divison under Sieg.

Wiggan is taking the place of Ray Chun, who will run the Canadian personal banking division.

Organizational changes come amid the firm's growing wealth management ambitions.