[12] After graduating from Columbia Business School in New York City in 1987,[11] he joined McKinsey & Company and eventually became a senior partner in the firm's financial services practice.

[7] Gorman left Merrill Lynch in February 2006 to join Morgan Stanley as the president and chief operating officer of the Global Wealth Management Group (GWMG).

[15] In October 2007, Gorman took on the additional role of co-head of strategic planning with CFO Colm Kelleher.

[16] Structured as a staggered acquisition, Morgan Stanley purchased the remaining 35% of the Smith Barney business in June 2013, and became a global leader in wealth management with over 16,000 financial advisors and $1.8 trillion in client assets.

[19] In January 2020, he was appointed an Officer of the Order of Australia (AO)[20] that recognizes Australians who have demonstrated outstanding service or exceptional achievement.

Gorman said he was "honoured to receive this award and extremely proud to represent Australia abroad", adding, "While most of my working life has been in the US my heart remains firmly Australian.

[24] Several members of Congress also warned that US financial executives should not attend the Summit, saying "Their presence only serves to legitimise the swift dismantling of Hong Kong's autonomy, free press and the rule of law by Hong Kong authorities acting along with the Chinese Communist Party.

[26] He was succeeded as CEO by Ted Pick on January 1, 2024, while remaining executive chairman of the firm's board.