Finance
Morgan Stanley’s Ted Pick Will Succeed James Gorman as CEO
- Pick is seen as architect of trading revival after ’08 crisis
- He’s helped firm go toe-to-toe with chief Wall Street rivals
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Morgan Stanley selected Ted Pick to become its new chief executive officer, succeeding James Gorman after a 14-year run that reshaped the Wall Street bank.
Pick, a co-president and three-decade veteran of the firm, will be elevated to the top role in January and join the board, the bank said in a statement Wednesday. Gorman, 65, will stay on as executive chairman.