Wall Street's newest CEO is actually a Wall Street guy
Morgan Stanley chooses Ted Pick, a veteran of the trading floor, to run a firm that's branched out into Main Street businesses like money management.
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Morgan Stanley chooses Ted Pick, a veteran of the trading floor, to run a firm that's branched out into Main Street businesses like money management.
Morgan Stanley said Oct. 25 it has named Ted Pick, currently the bank's co-president, as its new CEO starting 2024, replacing James Gorman.
The announcement "removes an uncertainty" for the firm at a time of macroeconomic and geopolitical challenges, Jim Cramer said Thursday.
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The downgrade comes as investors wait for management to name a successor to James Gorman, who said in May he planned to step down in the next 12 months.