DealBook
James P. Gorman, the chief executive of Morgan Stanley, gave away nearly $1 million worth of stock he owned in the bank last week.
Quote: Nearly all of the donated stock came from something called a “grantor retained annuity trust,” which is a tax-efficient vehicle from which people typically donate to charity or family. Mr. Gorman is left with 35,558 shares in the trust after last week’s transaction.
