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Morgan Stanley's board will focus on the selection of CEO James Gorman's successor at its summer and fall meetings, a person familiar with the situation said, while the outgoing boss looks to clear the decks by resolving major regulatory matters. Gorman, who has run the Wall Street giant since 2010, announced last month that he would step down within a year, setting off speculation about which executive would be chosen to succeed him in one of the most powerful roles in finance. Morgan Stanley co-presidents Ted Pick and Andy Saperstein are widely viewed as the front-runners for the top job, with Pick seen as having a slight edge, the person said.