Daily Dispatches: Aussie banker set to head Morgan Stanley

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Australian James Gorman is poised to become chief executive of Wall Street investment bank Morgan Stanley. Melbourne educated Gorman, who is co-president of the bank, will take over from John Mack when he steps down in January. (The Australian)

Macquarie Group expects a huge cash gain from the sale of management rights over its listed airport fund. The sale is expected to bring a one-off boost to half-year net profit, pushing it to $435m. (Sydney Morning Herald)

A major superannuation group has sought to reopen debate on increasing compulsory super contribution beyond the current 9 per cent, proposing an extra 3 per cent that can only be taken in small regular payments after retirement. (Business Day)