James Gorman will continue as the chairman of the board.
Ted Pick will succeed James Gorman as CEO of Morgan Stanley, effective January 1, 2024.
The transition is part of a planned succession process.
Morgan Stanley, a leading global financial services firm, has announced that Ted Pick will succeed James Gorman as CEO, effective January 1, 2024. The announcement was made on October 25, 2023. Pick, who currently serves as the firm's head of Institutional Securities, has been with Morgan Stanley for more than 30 years. He has held various senior leadership roles, including overseeing the firm's trading and investment banking businesses.
James Gorman, who has been the CEO of Morgan Stanley since 2010, will continue as the chairman of the board. Under Gorman's leadership, the firm has seen significant growth and transformation, including the acquisition of E*Trade and Eaton Vance. The transition is part of a planned succession process.
The appointment of Pick is seen as a continuation of the firm's current strategy, given his instrumental role in shaping it. His leadership in the Institutional Securities business, which includes investment banking and trading, has been a major contributor to the firm's recent success.
The article provides a detailed background of Ted Pick's career at Morgan Stanley.
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CNBC is owned by NBCUniversal News Group, a division of NBCUniversal, which is in turn owned by Comcast. Comcast has significant financial interests in the financial sector, which could potentially influence CNBC's coverage of financial institutions like Morgan Stanley.
The article discusses the impact of this change on Morgan Stanley's stock.
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CNN is owned by WarnerMedia News & Sports, a division of AT&T's WarnerMedia. AT&T has significant financial interests in the financial sector, which could potentially influence CNN's coverage of financial institutions like Morgan Stanley.
The article provides a comprehensive analysis of the transition process at Morgan Stanley.
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Bloomberg is owned by Bloomberg L.P., where the majority shareholder is Michael Bloomberg. Michael Bloomberg has significant financial interests in the financial sector, which could potentially influence Bloomberg's coverage of financial institutions like Morgan Stanley.
The article discusses the potential impact of this leadership change on Morgan Stanley's future strategies.
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Yahoo Finance is owned by Yahoo, which is in turn owned by Verizon Communications. Verizon has significant financial interests in the financial sector, which could potentially influence Yahoo Finance's coverage of financial institutions like Morgan Stanley.