Morgan Stanley names new CEO, head of wealth and more
Morgan Stanley has made its decision on who should succeed the man who helped the firm recover from the turmoil of the financial crisis and grow into wealth management titan.
Current CEO James Gorman announced his decision to step down after 13 years in charge back in May, telling the shareholders’ AGM that the new chief executive should be in place within 12 months.
Just five months later and Edward (Ted) Pick has been named as the new CEO from January 1, 2024, elevating him from his current role as co-president, co-head of firm strategy, and head of the Institutional Securities Group, where he oversees Investment Banking, Equities, Fixed Income, Capital Markets and Research.
“The Board has unanimously determined that Ted Pick is the right person to lead Morgan Stanley and build on the success the Firm has achieved under James Gorman’s exceptional leadership,” said Tom Glocer, lead director of the Morgan Stanley board of directors. “Ted is a strategic leader with a strong track record of building and growing our client franchise, developing and retaining talent, allocating capital with sound risk management, and carrying forward our culture and values.”
Pick joined the firm in 1990 and became a managing director in 2002, with several leadership roles ahead including global head of Sales and Trading, head of Institutional Equities, and head of Equity Capital Markets.
“Morgan Stanley is a storied institution, and I am deeply honored to have been chosen to lead it,” said Pick. “We have a global diversified business with a leading client franchise. Thanks to James’ excellent leadership, our firm is now well-positioned to succeed across market cycles, and I am excited about the opportunities for future growth. Morgan Stanley
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