Morgan Stanley has named its Chief Executive Officer, Ted Pick, as the new chairman of the board, succeeding James Gorman in a transition set to take place on January 1, 2025.
The announcement solidifies Pick’s leadership at the financial institution as he takes on the additional role, following his appointment as CEO earlier this year.
Leadership Transition
James Gorman, who has been at the helm of Morgan Stanley since 2010, handed over the CEO role to Pick on January 1, 2024.
However, Gorman remained as the bank’s executive chairman to provide support during the leadership transition.
The bank announced in May that Gorman would step down from his chairman role by the end of 2024, and earlier this week, he was named chairman of Disney’s board.
Gorman had previously stated that his extended presence at the firm was intended to support Pick rather than to steer his decisions.
With Pick assuming the chairman position at the start of 2025, the leadership transition at Morgan Stanley will be complete.
Need Career Advice? Get employment skills advice at all levels of your career
Pick’s Leadership at Morgan Stanley
Ted Pick’s rise to the top role marks a significant chapter in Morgan Stanley’s history.
As a longtime executive at the firm, he has overseen critical divisions such as institutional securities, helping drive the bank’s strategic growth.
With his appointment as CEO and now chairman, Pick is poised to shape Morgan Stanley’s future direction in a rapidly evolving financial landscape.
