Ted Pick

Last updated

Edward "Ted" Pick (born October 31, 1968) is an American business executive who since January 1, 2024 is the CEO of Morgan Stanley, following James P. Gorman, who will transition to the role of executive chairman of the board. [1] [2] [3]

Career

Pick joined Morgan Stanley as an analyst in 1990 after graduating from Middlebury College and Harvard Business School. [4] [5] His entry was facilitated through a connection with a classmate related to former Morgan Stanley chair S. Parker Gilbert. [5]

In 2002, Pick was named managing director. [6] By 2005, he was in charge of this division and was involved in capital-raising activities during the 2007–2008 financial crisis. [6] [4] [5] He was inducted into the management committee in 2008. [6]

From 2009 to 2015, Pick was involved in global equities trading and, subsequently, took on the role of rejuvenating Morgan Stanley's fixed-income business. [4] This involved reducing its workforce by 25% and addressing revenue concerns. [4] He later held the position of global head of sales and trading. [4]

From 2021 to 2023, he served as the co-president of Morgan Stanley. Over the years, he has held various roles, including managing director and head of equity capital markets. He became the company's CEO at the beginning of 2024. [6] [7]

Related Research Articles

<span class="mw-page-title-main">Morgan Stanley</span> American financial services company

Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 41 countries and more than 75,000 employees, the firm's clients include corporations, governments, institutions, and individuals. Morgan Stanley ranked No. 61 in the 2023 Fortune 500 list of the largest United States corporations by total revenue.

<span class="mw-page-title-main">Jamie Dimon</span> American billionaire business executive and banker (born 1956)

James Dimon is an American billionaire business executive and banker, who has been the chairman and chief executive officer of JPMorgan Chase since 2005. He has also been on the board of directors of the Federal Reserve Bank of New York. Dimon was included in Time magazine's 2006, 2008, 2009, and 2011 lists of the world's 100 most influential people. Forbes estimated his net worth at $1.6 billion as of June 2023. He serves on the board of directors of several non-profit institutions; including the Business Roundtable, New York Jobs CEO Council, the Bank Policy Institute, and the Harvard Business School. In the past he served as chairman of the Business Roundtable, and he is the current chairman of the Bank Policy Institute.

<span class="mw-page-title-main">Salomon Brothers</span> Former American investment bank

Salomon Brothers, Inc., was an American multinational bulge bracket investment bank headquartered in New York City. It was one of the five largest investment banking enterprises in the United States and the most profitable firm on Wall Street during the 1980s and 1990s. Its CEO and chairman at that time, John Gutfreund, was nicknamed "the King of Wall Street".

<span class="mw-page-title-main">Franklin Templeton Investments</span> Global investment firm founded in New York City in 1947

Franklin Resources, Inc. is an American multinational holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin, for whom the company is named, and who was admired by founder Rupert Johnson Sr. In 1973, the company's headquarters moved from New York to San Mateo, California.

<span class="mw-page-title-main">E-Trade</span> American financial services company

E-Trade Financial Corporation, a subsidiary of Morgan Stanley, offers an electronic trading platform to trade financial assets. The company receives revenue from interest income on margin balances, commissions for order execution, payment for order flow, and management services.

<span class="mw-page-title-main">BlackRock</span> American multinational investment management corporation

BlackRock, Inc. is an American multinational investment company. It is the world's largest asset manager, with $9.42 trillion in assets as of June 30, 2023. Headquartered in New York City, Blackrock has 70 offices in 30 countries, and clients in 100 countries. BlackRock is the manager of the iShares group of exchange-traded funds, and along with The Vanguard Group and State Street, it is considered to be one of the Big Three index fund managers. Its Aladdin software keeps track of investment portfolios for many major financial institutions and its BlackRock Solutions division provides financial risk management services. BlackRock is ranked 184th on the Fortune 500 list of the largest United States corporations by revenue.

John J. Mack is a senior advisor to the investment firm Kohlberg Kravis Roberts and the former CEO and chairman of the board at Morgan Stanley, the New York–based investment bank and brokerage firm.

<span class="mw-page-title-main">Financial Services Forum</span>

The Financial Services Forum is an American, non-partisan economic policy and advocacy organization whose members are the chief executive officers of the eight largest and most diversified financial institutions headquartered in the United States.

<span class="mw-page-title-main">Thomas O. Staggs</span> American business executive (born 1961)

Thomas Owen Staggs is an American business executive and investor. He is currently one of the co-founders and co-CEOs of Candle Media. He formerly worked at The Walt Disney Company for nearly 27 years, beginning in 1990, working in finance and later becoming the chief financial officer (CFO), then as chairman of Walt Disney Parks and Resorts Worldwide and finally as chief operating officer (COO). He also holds directorships on various company boards, including Spotify.

<span class="mw-page-title-main">Ted Leonsis</span> American businessman (born 1957)

Theodore John Leonsis is an American businessman and investor. He is a former senior executive with America Online (AOL), and the founder, chairman, and CEO of Monumental Sports & Entertainment, which owns the Washington Wizards, Washington Capitals, and Washington Mystics.

<span class="mw-page-title-main">James P. Gorman</span> Australian-American financier (born 1958)

James Patrick Gorman is an Australian-American financier who is the former chief executive officer and current executive chairman of Morgan Stanley. Before becoming CEO, he was the Co-President and Co-Head of Strategic Planning at the firm.

Jerker Mats Johansson is a Swedish investment banker and was the chief executive officer of UBS Investment Bank and member of the Group Executive Board at UBS AG between February 13, 2008, and April 27, 2009.

SurveyMonkey Inc. is an experience management company that offers cloud-based software in brand insights, market insights, product experience, employee experience, customer experience, online survey development, and a suite of paid back-end programs.

<span class="mw-page-title-main">Mary Schapiro</span> 29th Chairwoman of the Securities and Exchange Commission

Mary Lovelace Schapiro served as the 29th Chair of the U.S. Securities and Exchange Commission (SEC). She was appointed by President Barack Obama, unanimously confirmed by the U.S. Senate, and assumed the Chairship on January 27, 2009. She is the first woman to be the permanent Chair of the SEC. In 2009, Forbes ranked her the 56th most powerful woman in the world.

<span class="mw-page-title-main">Blythe Masters</span> British economist (born 1969)

Blythe Masters is a British Private Equity executive and former financial services and fintech executive. She is a former executive at JPMorgan Chase, where she was widely credited for developing the credit default swap as a financial instrument. She is founding partner of FinTech private equity firm, Motive Partners, CEO of Motive Capital Corp, an Advisory Board Member of the US Chamber of Digital Commerce, a Board Member of GCM Grosvenor, Forge Global, CAIS Group, and Credit Suisse Group.

<span class="mw-page-title-main">Glenn Dubin</span> American hedge fund manager (born 1957)

Glenn Russell Dubin is an American billionaire hedge fund manager and the Principal of Dubin & Co. LP, a private investment company. He is the co-founder of Highbridge Capital Management, an alternative asset management company based in New York City, and a founding board member of the Robin Hood Foundation.

<span class="mw-page-title-main">Thomas R. Nides</span> American banker and diplomat (born 1961)

Thomas Richard Nides is an American banker and government official who served as the United States ambassador to Israel from December 2021 to July 2023. From 2013 to 2021, he was the managing director and vice-chairman of Morgan Stanley, serving as a member of the firm's management and operating committee. Nides was previously appointed the deputy secretary of state for management and resources from 2011 to 2013 during the Obama administration. He has served in various financial and governmental roles throughout his life.

<span class="mw-page-title-main">Greenhill & Co.</span> American investment bank

Greenhill & Co., Inc. is an American investment bank founded in 1996 by Robert F. Greenhill. The firm provides advice on mergers, acquisitions, restructurings, financings, and capital raisings to leading corporations, partnerships, institutions and governments across a number of industries.

Alex Edmans is a British academic and economist who is professor of finance at London Business School and Mercers' School Memorial Emeritus Professor of Business at Gresham College. He serves on the World Economic Forum Global Future Council on the Future of Responsible Investing and as a non-executive director of the Investor Forum. He is an elected Fellow of the Academy of Social Sciences and the Financial Management Association, Director of the American Finance Association and Vice President-Elect of the Western Finance Association.

<span class="mw-page-title-main">ICONIQ Capital</span> American wealth management and investment firm

ICONIQ Capital is an American wealth management and investment firm based in San Francisco, California. It functions as a family office that provides wealth management services to high net worth clients such as Mark Zuckerberg, Sheryl Sandberg, Jack Dorsey and Jeff Weiner. The firm also is involved in investments related to Private equity and Venture capital.

References

  1. Franklin, Joshua (October 25, 2023). "Morgan Stanley chooses Ted Pick to replace James Gorman as CEO".
  2. Andriotis, AnnaMaria (October 26, 2023). "Ted Pick Is a Math Whiz Among Math Whizzes. He's the New Morgan Stanley CEO". WSJ.
  3. "Morgan Stanley's Ted Pick Will Succeed James Gorman as CEO". October 25, 2023 via www.bloomberg.com.
  4. 1 2 3 4 5 Franklin, Joshua; Masters, Brooke (October 26, 2023). "Morgan Stanley makes its choice: how Ted Pick won the CEO succession race".
  5. 1 2 3 Cuccinello, Hayley. "How Morgan Stanley exec Ted Pick rose from 'rough edged' deal junkie to CEO". Business Insider.
  6. 1 2 3 4 "Five facts about Morgan Stanley's new CEO Ted Pick". October 26, 2023 via www.reuters.com.
  7. Copeland, Rob (2023-10-26). "Morgan Stanley Names Ted Pick, a Bank Veteran, Its Next C.E.O." The New York Times. ISSN   0362-4331 . Retrieved 2024-01-17.