Ted Pick takes charge of Morgan Stanley

WHEN JAMES GORMAN took the helm of Morgan Stanley, it was barely standing. His tenure as CEO of the bank began on January 1, 2010 during the global financial crisis. After the failure of Lehman Brothers in 2008, 

there was widespread fear that other dominoes would soon fall. Morgan Stanley seemed a likely candidate. Then-treasury secretary Hank Paulson is rumored to have offered it to JPMorgan Chase for free (Jamie Dimon, the head of JPMorgan, apparently declined). The company then took a state aid package. In 2009, 

its return on equity was only 4% as an indicator of profitability.Morgan Stanley and incoming CEO Ted Pick pose for a portrait on December 21, 2023 in New York, United States. REUTERS/Jeenah Moon(REUTERS)PREMIUMMorgan Stanley and incoming chief executive Ted Pi

 pose in York, U.S., December 21, 2023 .REUTERS/Jeenah Moon (REUTERS)Mr Pick described the classic progress by Morgan Stanley9 since "a2009 self-help story". It started very amplified, volatile.

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