Morgan Stanley CEO Has Recovered After Positive Covid-19 Test

Morgan Stanley Chief Executive James Gorman tested positive for COVID-19 but had mild symptoms and has recovered, a spokesperson said Thursday.

Gorman disclosed the information near the end of a 12-minute video message to employees released Thursday that also discussed the impact of the coronavirus on the economy and financial markets, the spokesperson said.

"His symptoms were mild," the spokesperson said. "He self-isolated but continued working from home."

The executive felt flu-like symptoms in mid-March. He tested positive for the virus and self-quarantined at his Manhattan apartment. While he immediately notified the board of his condition, but did not make the information public until Thursday.

Gorman, the first chief of one of Wall Street's financial giants to disclose having a coronavirus infection, led the investment bank's operating committee throughout his illness, participated in virtual board meetings and took calls from other executives.

"Had he become worse, had he become unable to work, we would have made it public," the spokesperson said.

Gorman's doctors told him a week ago he had recovered, although he is still working from home.

Peregrine "Peg" Broadbent, 56, the chief financial officer at Jefferies Group, died in late March due to the coronavirus. The investment bank had not disclosed his illness prior to his death.