Market News
Oct 25 - Morgan Stanley's Ted Pick won the race to succeed long-time CEO James Gorman and on Wednesday promised to stick to the blue chip Wall Street firm's strategy as it navigates a deal-making slump and uncertain economic outlook.
Still, Pick will have to deal with a tumultuous investment banking backdrop which has damaged earnings, an investigation by U.S. regulators into its block trading practices, and managing relationships with the two peers who lost out on the top job. Prior to his current role, he was the global head of sales and trading and engineered a turnaround of the firm's fixed income division. Gorman said the turnaround was a difficult time in which he saw Pick could make"tough calls" and keep people motivated.
The new CEO acknowledged the market is"challenging" but did not have any"bearing on how we're thinking about the strategy."
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morgan Stanley’s Ted Pick Will Succeed James Gorman as Next CEOMorgan Stanley selected Ted Pick to become its new chief executive officer, succeeding James Gorman after a 14-year run that reshaped the US bank.
Read more »
Ted Pick’s Long Rise at Morgan Stanley Peaks With Summons From BossShortly before 5 p.m. on Wednesday, Morgan Stanley co-President Ted Pick was asked to join his boss in the board room.
Read more »
Factbox-Five facts about Morgan Stanley's new CEO Ted PickMorgan Stanley chose Ted Pick to succeed its longtime leader James Gorman as CEO, effective Jan. 1. 1) Pick has been co-president of Morgan Stanley for the ...
Read more »
Factbox-Five facts about Morgan Stanley's new CEO Ted PickExplore stories from Atlantic Canada.
Read more »
Comments on Morgan Stanley naming Ted Pick as CEOExplore stories from Atlantic Canada.
Read more »