Morgan Stanley Announces Ted Pick as New CEO, James Gorman to Become Executive Chairman

  • last year
Ted Pick, a longtime insider at Morgan Stanley, will replace James Gorman as CEO on January 1st. Gorman will transition to the role of executive chairman. Two other executives, Andy Saperstein and Dan Simkowitz, have also been given new titles and responsibilities. The appointment of Pick was praised by Gorman and the board. Morgan Stanley's third-quarter profits dropped, leading to disappointment among investors. Despite the announcement of a new CEO, the firm's stock remained flat.
Transcript
00:00 Benzinga and here's what's on the block. Ted Pick, a longtime insider at Morgan Stanley,
00:05 will replace James Gorman as CEO on January 1st. Gorman will transition to the role of
00:11 executive chairman. The two other executives, Andy Saperstein and Dan Simkowicz, have also
00:17 been given new titles and responsibilities. The appointment of Pick was praised by Gorman and the
00:22 board. Morgan Stanley's third quarter profits dropped, leading to disappointment among investors.
00:28 Despite the announcement of a new CEO, the firm's stock remained flat.
00:31 For all things money, visit Benzinga.com.

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