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Morgan Stanley says Ted Pick will succeed James Gorman as CEO on Jan. 1
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cnbc.comMorgan Stanley said Wednesday that Ted Pick will succeed James Gorman as CEO at the start of 2024.
Pick, a Morgan Stanley veteran who rose through the ranks to lead the bank's Wall Street operations, will also join the bank's board, the bank said in arelease.
Gorman will stay on at the bank as executive chairman.
The announcement ends the top succession race on Wall Street. Morgan Stanley announced in May that Gorman intended to step down within a year and that it would select his successor from the bank's three main division heads.
This is breaking news. Please check back for updates.
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