Page 7 - Andy Saperstein News Today

Morgan Stanley awarded stock-based awards to its next chief executive officer and other leaders who were in the running for the top job. The bank gave Ted…

The Board of Directors of Morgan Stanley announced that Co-President Edward (Ted) Pick will become the Firm’s Chief Executive Officer, effective January 1, 2024. James Gorman will become Executive Chairman. Mr. Pick will also join Morgan Stanley’s Board of Directors at that time. The Firm also announced that Co-President Andy Saperstein will become...

It had to be Ted.

Oct 27 - Morgan Stanley gave its next CEO Ted Pick and the other two contenders for the top job one-time awards worth about $20 million each, the bank said...

By Denny Jacob Morgan Stanley awarded stock-based awards to its next chief executive officer and other leaders who were in the running for the top job. The bank gave Ted Pick, who succeeds...

The Entire Business World on a Single Page with the Web's Most Comprehensive One-Stop Finance News Hub.

(Reuters) -Morgan Stanley gave its next CEO Ted Pick and the other two contenders for the top job one-time awards worth about $20 million each, the ba...

(Reuters) -Morgan Stanley gave its incoming CEO Ted Pick and the two other executives considered for the top job one-time bonuses of $20 million each, the bank said in a filing on Friday. The performance-linked stock awards for Pick, Co-President Andy Saperstein and incoming Co-President Dan Simkowitz were based on fair value calculations of the bank's current stock price. Earlier this week, Pick won the race to succeed long-time CEO James Gorman on Jan. 1.

Ted Pick, aged 54 and with over 30 years of experience at Morgan Stanley, currently heads the institutional securities division, which includes the banks investment banking and trading unit. He beat internal candidates Andy Saperstein and Dan Simkowitz. in a three-way competition for the role.

Ted Pick will become Morgan Stanley's new chief executive, succeeding James Gorman after a 14-year run.