Meet Ted Pick, the hard-charging 'deal junkie' who looks poised to succeed James Gorman as CEO of Morgan Stanley
Morgan Stanley's hard-charging trading boss Ted Pick is the frontrunner to succeed CEO James Gorman.Insider spoke to Pick's clients and ex-colleagues and analysts to learn what makes him tick.
He wears a lucky red tie with monkeys chasing tigers on it. Pick once wore Gucci loafers on a fly-fishing trip in the Brazilian rainforest, the former Blackstone president Tony James told Insider with a laugh. But it's not a done deal. While Morgan Stanley currently trades at a premium among its Wall Street peers, but its enviable success isn't thanks to Pick. His group has tumbled with the market slowdown, with revenue flat from a year ago and down by 13% from last quarter. Meanwhile, the growing wealth-management arm has buoyed the bank, contributing about 60% of the bank's profits last quarter.
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