John Mack, Morgan Stanley’s chairman and chief executive, looks set to defeat opposition from a number of pension funds and win a comfortable re-election to the investment bank’s board at Tuesday’s shareholder meeting.

People close to the situation said that, with more than 80 per cent of the votes counted, Mr Mack was on course to secure the support of more than 90 per cent of Morgan Stanley’s shareholders. Other directors were also likely to secure similar majorities.