Morgan Stanley CEO James Gorman questioned the need for companies to report earnings every quarter, calling the practice "asinine."
"This is one thing the Brits definitely have figured out with six month reporting," Gorman said on Tuesday at a conference hosted by Bloomberg L.P. in New York.
"Why wouldn't that power and information in an organization go into what's best for clients rather than having to report again in another nine weeks?"
Gorman joins Wall Street leaders like BlackRock Inc CEO Larry Fink and JPMorgan Chase & Co CEO Jamie Dimon who have called on companies and investors to look past quarterly earnings and to encourage more long-term thinking.
(Reporting by Olivia Oran; Editing by David Gregorio)
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