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Morgan Stanley CEO Candidate List Takes Shape on Promotions

  • Ted Pick elevated to oversee banking, trading division
  • Franck Petitgas will lead firm’s international operations
Bloomberg business news
Morgan Stanley’s Ted Pick was promoted and is now seen as a possible successor to CEO James Gorman.Source: Bloomberg)
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Morgan Stanley’s Ted Pick was promoted to head the division that houses all of its investment bankers and traders, bolstering his position as a possible successor to Chief Executive Officer James Gorman.

Pick, 49, led Morgan Stanley’s equity-trading business to a No. 1 ranking for the past four years and has been leading a fixed-income turnaround since 2015. The new role, announced Tuesday in an internal memo, adds oversight of the firm’s dealmakers to his responsibilities. Franck Petitgas, 57 and also considered a CEO candidate, was appointed head of the bank’s international operations as part of the shuffle.