"James Gorman was backed into a Ted Pick corner once Jon Pruzan left"
It had to be Ted.
Source: efinancialcareers.com
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It had to be Ted.
Ted Pick will become Morgan Stanley's new chief executive, succeeding James Gorman after a 14-year run.
The head of investment banking and trading was one of three internal candidates, as James Gorman steps down in January after 14 years at the helm.
Pick beat out two other CEO contenders: Co-President Andy Saperstein and Dan Simkowitz, who has led investment management.
As Morgan Stanley's James Gorman considers who to succeed him as CEO, he also hopes that the handoff will be drama-free.