Morgan Stanley CEO Shakes Up Leadership With Eyes on a Successor
- Pick and Saperstein emerge as likeliest heirs as co-presidents
- Gorman tells board he plans to remain CEO at least three years
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Morgan Stanley Chief Executive Officer James Gorman unveiled his biggest leadership shakeup in more than a decade, positioning a small group of lieutenants -- and two in particular -- as his most likely successors.
Ted Pick, the architect of Morgan Stanley’s trading revival, and Andy Saperstein, who built the company into a wealth-management powerhouse, were tapped as co-presidents and given expanded roles atop the Wall Street bank that’s been gaining ground on rivals.