Pick’s Long Rise at Morgan Stanley Peaks With Boss’s Summons (1)

Shortly before 5 p.m. on Wednesday, Morgan Stanley co-President Ted Pick was asked to join his boss in the board room.

“I thought it was a good idea to join him — and to grab my jacket,” he said.

Ted Pick

Source: Morgan Stanley

Pick, 54, was greeted with a standing ovation and the news that he would succeed James Gorman, 65, as the firm’s chief executive officer. The Morgan Stanley lifer had won Wall Street’s most closely watched succession race and is taking the helm of a bank in a far different position than when Gorman ascended in the wake of the ...