The Board of Directors of Morgan Stanley (NYSE: MS) has declared that Co-President Edward (Ted) Pick will assume the role of the company's Chief Executive Officer, starting from January 1, 2024.
Tom Glocer, Lead Director of the Board, said, "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. 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. We believe that the Board’s rigorous and well-managed succession process, under the leadership of Dennis Nally, the Chair of our Compensation, Management Development and Succession Committee, has resulted in the appointment of an outstanding CEO while also demonstrating the strength and depth of Morgan Stanley’s leadership talent.”
Mr. Pick has held the position of Co-President at Morgan Stanley for the past two years. In his capacity as the leader of the Institutional Securities Group, he has been responsible for overseeing Investment Banking, Equities, Fixed Income, Capital Markets, and Research. Additionally, he serves as the Co-Head of Firm Strategy.
Before taking on his current role, Mr. Pick served as the Global Head of Sales and Trading, where he successfully orchestrated a turnaround of the Firm's Fixed Income Division. As the Head of Institutional Equities, he played a pivotal role in establishing the business as a global leader. Prior to that, Mr. Pick held the position of Head of Equity Capital Markets, and he actively assisted the Firm in raising capital during the financial crisis.
Mr. Pick's journey with Morgan Stanley began in 1990, and he was promoted to Managing Director in 2002. He holds membership in the Firm's Operating Committee since 2012, the Management Committee since 2008, and the Morgan Stanley-MUFG Steering Committee since 2013.
Source: Morgan Stanley