In the second part of our conversation with James Gorman, Morgan Stanley’s chairman and CEO, is joined again by Vik Malhotra, a McKinsey senior partner. James reflects on his management style, his relationship with the board, as well as how he nurtures the talent pipeline­–including the “two Cs” that guide his decisions about people.

You can find more interviews with the world's top-performing leaders in the acclaimed bestseller, CEO Excellence: The six mindsets that distinguish the best leaders from the rest by Carolyn Dewar, Scott Keller, and Vikram Malhotra. 

 

Follow McKinsey's Strategy and Corporate and Finance practice on LinkedIn and Twitter. 

 

Explore more Inside the Strategy Room podcast episode transcripts at McKinsey.com/itsr.

In the second part of our conversation with James Gorman, Morgan Stanley&rsquo;s chairman and CEO, is joined again by Vik Malhotra, a McKinsey senior partner. James reflects on his management style, his relationship with the board, as well as how he nurtures the talent pipeline&shy;&ndash;including the &ldquo;two Cs&rdquo; that guide his decisions about people.
You can find more interviews with the world's top-performing leaders in the acclaimed bestseller, <a href="https://www.mckinsey.com/featured-insights/mckinsey-on-books/ceo-excellence">CEO Excellence: </a><a href="https://www.mckinsey.com/featured-insights/mckinsey-on-books/ceo-excellence">The six mindsets that distinguish the best leaders from the rest</a> by <a href="https://www.mckinsey.com/our-people/carolyn-dewar">Carolyn Dewar</a>, <a href="https://www.mckinsey.com/our-people/scott-keller">Scott Keller</a>, and <a href="https://www.mckinsey.com/our-people/vik-malhotra">Vikram Malhotra</a>.&nbsp;
&nbsp;
Follow McKinsey's Strategy and Corporate and Finance practice on <a href="https://www.linkedin.com/showcase/mckinsey-strategy-&amp;-corporate-finance">LinkedIn</a> and <a href="https://twitter.com/mckstrategy">Twitter</a>.&nbsp;
&nbsp;
Explore more Inside the Strategy Room podcast episode transcripts at <a href="https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/inside-the-strategy-room-podcast">McKinsey.com/itsr</a>.

We talk with McKinsey partners and corporate executives on the challenges they face creating lasting strategies in a fast-changing world. We also examine the different ways these executives approach these challenges and the new and innovative ways they think of creating a vision for their enterprises.

What does it take to survive in a world of constant change? More than ever, enterprises need to create strategies that can meet current needs but also adapt to future demand. A regular series of interviews with McKinsey partners and corporate executives.

Inside the Strategy Room

The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few.  But it takes bold people and courageous approaches to seize those opportunities and create value.

In each episode of our weekly podcast, we interview the world’s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them. 

The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few. &nbsp;But it takes bold people and courageous approaches to seize those opportunities and create value.
In each episode of our weekly podcast, we interview the world&rsquo;s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them.&nbsp;

Morgan Stanley Chairman and CEO James Gorman on his management style and relationship with the board.

120. Voices of CEO Excellence: James Gorman, Morgan Stanley. Part 2.

While artificial intelligence is moving rapidly from experimentation to execution, many companies still struggle to capture real value from the technology. In this episode, we’re joined by Professor Jean-Paul Carvalho and Robin Nuttall to explore how CEOs can more effectively scale AI and to discuss the technology's implications for the future of work and organizations.

Jean-Paul is Professor of Political Economy at the University of Oxford’s Department of Economics and Director of Oxford Elevate. Robin Nuttall is an expert partner in our London office and a leader of our regulatory strategy and environmental, social, and governance work. Robin is also a Business Fellow at the University of Oxford’s Economics Department.

Related insights
How AI is transforming strategy development
The state of AI in 2025: Agents, innovation, and transformation
Building next-horizon AI experiences
Artificial intelligence in strategy

While artificial intelligence is moving rapidly from experimentation to execution, many companies still struggle to capture real value from the technology. In this episode, we&rsquo;re joined by <a href="https://www.economics.ox.ac.uk/people/jean-paul-carvalho">Professor Jean-Paul Carvalho</a> and <a href="https://www.mckinsey.com/our-people/robin-nuttall">Robin Nuttall</a> to explore how CEOs can more effectively scale AI and to discuss the technology's implications for the future of work and organizations. Jean-Paul is Professor of Political Economy at the <a href="https://www.economics.ox.ac.uk/">University of Oxford&rsquo;s Department of Economics</a> and Director of <a href="https://www.economics.ox.ac.uk/oxford-elevate">Oxford Elevate</a>. Robin Nuttall is an expert partner in our London office and a leader of our regulatory strategy and environmental, social, and governance work. Robin is also a <a href="https://www.economics.ox.ac.uk/people/robin-nuttall">Business Fellow</a> at the University of Oxford&rsquo;s Economics Department. Related insights <a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/how-ai-is-transforming-strategy-development">How AI is transforming strategy development</a> <a href="https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai">The state of AI in 2025: Agents, innovation, and transformation</a> <a href="https://www.mckinsey.com/capabilities/tech-and-ai/our-insights/building-next-horizon-ai-experiences">Building next-horizon AI experiences</a> <a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/artificial-intelligence-in-strategy">Artificial intelligence in strategy</a>

295. AI, strategy, and the future of work: What business leaders need to know 

What does today’s wave of AI and economic change really mean for markets, jobs, and leadership?

In this episode, David Solomon, Chairman and CEO of Goldman Sachs, joins our North America Chair and senior partner, Eric Kutcher, to explain why he sees the current moment as more evolutionary than unprecedented. Solomon discusses what’s driving market resilience in 2026, including fiscal policy, AI infrastructure investment, and shifting trade dynamics. He also shares how Goldman is using AI to boost productivity, reengineer core processes, and invest for long-term growth—as well as candid lessons on leadership, resilience, and decision-making at the top. This episode was recorded in December 2025.

Related insights

The strategic realities of a new era

‘Saying “I don’t know” is one of the hardest things a leader can do’: A conversation with Delta CEO Ed Bastian

Retired US Navy Admiral Eric Olson: Leading effectively in uncertain times

Building geopolitical resilience: A conversation with Michèle Flournoy

What does today&rsquo;s wave of AI and economic change really mean for markets, jobs, and leadership?
In this episode, David Solomon, Chairman and CEO of Goldman Sachs, joins our North America Chair and senior partner, Eric Kutcher, to explain why he sees the current moment as more evolutionary than unprecedented. Solomon discusses what&rsquo;s driving market resilience in 2026, including fiscal policy, AI infrastructure investment, and shifting trade dynamics. He also shares how Goldman is using AI to boost productivity, reengineer core processes, and invest for long-term growth&mdash;as well as candid lessons on leadership, resilience, and decision-making at the top. This episode was recorded in December 2025.
Related insights
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/the-strategic-realities-of-a-new-era">The strategic realities of a new era</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/saying-i-dont-know-is-one-of-the-hardest-things-a-leader-can-do-a-conversation-with-delta-ceo-ed-bastian">&lsquo;Saying &ldquo;I don&rsquo;t know&rdquo; is one of the hardest things a leader can do&rsquo;: A conversation with Delta CEO Ed Bastian</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/retired-us-navy-admiral-eric-olson-leading-effectively-in-uncertain-times">Retired US Navy Admiral Eric Olson: Leading effectively in uncertain times</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/building-geopolitical-resilience-a-conversation-with-michele-flournoy">Building geopolitical resilience: A conversation with Mich&egrave;le Flournoy</a>

294. Goldman Sachs’ David Solomon on adapting to economic and technological change

After a long period of uncertainty, the fog has lifted, and while private equity rebounded in 2025, the clearer visibility has also revealed a more complex and demanding landscape.

In this episode, the authors of our 2026 Global Private Markets Report unpack the structural shifts reshaping the industry—from elevated multiples and longer hold periods to the growing importance of scale, specialization, and alternative capital. They also explore how artificial intelligence is emerging as a core driver of competitive advantage, with early adopters embedding AI into pricing, productivity, and portfolio strategy to create structural alpha.

As private equity continues to mature, dispersion between leaders and laggards is set to widen. The question for dealmakers, operators, fundraisers, and LPs alike: who is equipped to best navigate this new terrain?


Related insights 

Global Private Markets Report 2026 Private equity: Clearer view, tougher terrain

After a long period of uncertainty, the fog has lifted, and while private equity rebounded in 2025, the clearer visibility has also revealed a more complex and demanding landscape.
In this episode, the authors of our 2026 Global Private Markets Report unpack the structural shifts reshaping the industry&mdash;from elevated multiples and longer hold periods to the growing importance of scale, specialization, and alternative capital. They also explore how artificial intelligence is emerging as a core driver of competitive advantage, with early adopters embedding AI into pricing, productivity, and portfolio strategy to create structural alpha.
As private equity continues to mature, dispersion between leaders and laggards is set to widen. The question for dealmakers, operators, fundraisers, and LPs alike: who is equipped to best navigate this new terrain?
 Related insights&nbsp;
<a href="https://www.mckinsey.com/industries/private-capital/our-insights/global-private-markets-report">Global Private Markets Report 2026 Private equity: Clearer view, tougher terrain</a>

120. Voices of CEO Excellence: James Gorman, Morgan Stanley. Part 2.

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