---
title: "Ted Pick assumes leadership at Morgan Stanley"
url: https://burnaze.com/article/131637fd-3867-4060-95a8-fc65af93564b
source: "Franchise Magazine USA"
original_url: https://franchisemagazineusa.com/ted-pick-assumes-leadership-at-morgan-stanley/
category: "Finance"
topics: ["Finance & M&A","People"]
published: 2024-01-20T02:36:19.000Z
modified: 2026-11-01T01:07:32.571Z
image: https://franchisemagazineusa.com/wp-content/uploads/2024/01/20240120_FNP505.jpg
---

# Ted Pick assumes leadership at Morgan Stanley

**TL;DR:** Ted Pick has assumed leadership at Morgan Stanley, emphasizing the firm's commitment to not repeating past mistakes. Under previous CEO James Gorman, the firm expanded its wealth-management business through acquisitions and became the top wealth manager on Wall Street.

*originally published in Franchise Magazine USA on 2024-01-20. [Read the original](https://franchisemagazineusa.com/ted-pick-assumes-leadership-at-morgan-stanley/).*

## Story

When James Gorman took over Morgan Stanley in 2010, the situation was dire. Still reeling from the global financial crisis, the firm was on the brink of collapse. However, fourteen years later, Gorman has handed over a much stronger and more stable company to Ted Pick.

During his first earnings call as the new CEO, Pick emphasized the firm’s commitment to not repeating the mistakes of the past. He credited the transformation of Morgan Stanley to a “classic self-help story,” highlighting the shift from a volatile trading and investment-banking entity to the top wealth manager on Wall Street.

Under Gorman’s leadership, the firm strategically expanded its wealth-management business through a series of savvy acquisitions, building up client assets to a staggering $6.6 trillion. Now, the majority of the firm’s profits come from wealth management, boasting a solid return on equity at an average of 16% year over year since 2020. This success has led to other global banks following suit and entering the wealth management space as well.

Amidst Morgan Stanley’s success, concerns have arisen about potential competition in the wealth management sector, threatening the firm’s margins and contributing to a drop in its share price after the earnings call.

In response to these concerns, Pick assured investors that the firm would maintain its strategy, focusing on organic growth. However, he did not rule out the possibility of future acquisitions, especially outside the United States. He believes that the wealth and investment management business, once considered as “ballast” for stability, is now the engine for Morgan Stanley’s future growth.

Morgan Stanley’s journey from near collapse to Wall Street’s pre-eminent wealth manager is truly remarkable. While challenges are on the horizon, Ted Pick’s steadfast leadership and vision for the firm’s growth are reassuring. This demonstrates that even in the fast-paced world of finance, steady and strategic management can lead to long-term success.

## Entities

- General (sector)
- Franchise Magazine USA (publication)
- leadership change (topic)
- Morgan Stanley (company)
- strategic expansion (topic)
- wealth management (topic)
- financial growth (topic)

---
Originally reported by Franchise Magazine USA (https://franchisemagazineusa.com/ted-pick-assumes-leadership-at-morgan-stanley/). Summarized by Burnaze (https://burnaze.com/article/131637fd-3867-4060-95a8-fc65af93564b).