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# Ted Pick Becomes Morgan Stanley CEO as James Gorman Moves to Executive Chairman
- URL: https://www.theglobalbanker.com/ted-pick-morgan-stanley-ceo-james-gorman-executive-chairman-january-2024/
- Published: 2024-01-01T16:19:00.000Z
- Updated: 2026-10-02T12:46:55.000Z
- Description: Ted Pick assumed the role of Chief Executive Officer at Morgan Stanley on 1 January 2024, with James Gorman stepping into the Executive Chairman position after 14 years as CEO.
- Author: TGB Editorial Team
- Tags: Executive Moves, Americas, #archive

Ted Pick took the helm at Morgan Stanley as Chief Executive Officer on 1 January 2024, completing a succession process that the bank's board announced in October 2023\. James Gorman transitions to the role of Executive Chairman.

Gorman's tenure included the acquisitions of E\*Trade and Eaton Vance. 

#### AN INSTITUTIONAL SECURITIES VETERAN

Pick spent his career at Morgan Stanley building and leading the Institutional Securities business, which spans sales and trading, investment banking, and capital markets. He was elevated to CEO from Co-President. 

Alongside Pick's appointment, Andrew Saperstein, already Co-President and Head of Wealth Management, added responsibility for Investment Management, and Daniel Simkowitz, previously Head of Investment Management, became Co-President and Head of Institutional Securities. 

#### STRATEGY

Pick said when his appointment was announced that Morgan Stanley had "a leadership transition but not a change in strategy".