The Board of Directors of Morgan Stanley announced that Co-President Edward (Ted) Pick will become the Firm’s CEO, effective January 1, 2024. James Gorman will become Executive Chairman. Pick will also join Morgan Stanley’s Board of Directors at that time. The Firm also announced that Co-President Andy Saperstein will become the Head of Wealth and Investment Management, and that Dan Simkowitz will become Co-President of the Firm and the Head of Institutional Securities. Gorman announced at the Firm’s 2023 annual general meeting of shareholders his intention to step down as CEO before the 2024 annual general meeting. Edward (Ted) Pick has served as Co-President of Morgan Stanley for the past two years. As Head of the Institutional Securities Group, he oversees Investment Banking, Equities, Fixed Income, Capital Markets and Research. He is also Co-Head of Firm Strategy.
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