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- Below are some quotes from banking observers and a rival about investment bank Morgan Stanley's naming of insider Ted Pick on Wednesday as its chief executive officer effective Jan. 1, replacing long-time leader James Gorman."The expectation is that the growth of mergers and acquisitions in the next couple of years will be high and that has been Pick's core competency, so we view it as a good move.
As with all his endeavors, his succession has been well-planned, facilitating a smooth transition.""Morgan Stanley is generally in very good shape as left by Gorman. Wealth management has carried it while investment banking and M&A activity has been weak. Trading has also been strong. Large integrations like eTrade and Eaton Vance are behind it and created some great diversification.
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