Irish man tipped to lead top US bank

Irishman Colm Kelleher is now in pole position to take over as global CEO of the US bank Morgan Stanley following the retirement of his long-time rival Paul Taubman.

Mr Taubman and Mr Kelleher had been co-heads of the company’s investment bank and rivals in a power struggle to replace chief executive James Gorman when he eventually steps down.

The retirement of Mr Taubman means that Bandon-born Mr Kelleher takes full control of one of the most important divisions within the banking giant.