Ted Pick will serve as next CEO

 

Morgan Stanley announces Ted Pick will serve as next CEO

New York

CNN

 — 

Morgan Stanley announced Ted Pick will serve as its new CEO starting January 1, succeeding long-serving head James Gorman.

Gorman will become executive chairman, the bank announced Wednesday.

Pick had served as co-president of Morgan Stanley for the past two years, the company said. He’s a veteran at the banking giant, also overseeing investment banking, equities, fixed income, capital markets and research. He also co-heads firm strategy. Pick first joined Morgan Stanley in 1990.