Morgan Stanley Appoints Its Co-President Edward Pick As CEO

(RTTNews) - Morgan Stanley (MS) said that Co-President Edward (Ted) Pick will become the Firm's Chief Executive Officer, effective January 1, 2024. He will also join Morgan Stanley's Board of Directors at that time.

James Gorman, who is Chairman of the Board of Directors and Chief Executive Officer of Morgan Stanley since January 2012, will become Executive Chairman the company.

Gorman announced at the Firm's 2023 annual general meeting of shareholders his intention to step down as Chief Executive Officer before the 2024 annual general meeting.

Morgan Stanley announced Wednesday that Co-President Andy Saperstein will become the Head of Wealth and Investment Management, and that Dan Simkowitz will become Co-President of the Firm and the Head of Institutional Securities.

Edward Pick has served as Co-President of Morgan Stanley for the past two years. Prior to his current role, He served as Global Head of Sales and Trading, engineering a turnaround of the Firm's Fixed Income Division. Pick was previously Head of Equity Capital Markets.

Pick joined Morgan Stanley in 1990 and was promoted to Managing Director in 2002. He is a member of the Firm's Operating Committee (2012), Management Committee (2008) and Morgan Stanley-MUFG Steering Committee (2013).