Morgan Stanley CEO James Gorman has recovered from COVID-19

Morgan Stanley's Chief Executive Officer James Gorman said he has fully recovered from the illness caused by the novel coronavirus, according to a video that was sent to the bank's employees on Thursday.

A Morgan Stanley spokesman confirmed the contents of the video, adding that the development was not considered to be material because Gorman was not incapacitated at any time.

Morgan Stanley had not disclosed earlier that Gorman had tested positive for the respiratory disease.