NEW YORK, July 10 (IFR) - Morgan Stanley named Ted Pick head of the institutional securities group, reporting to Colm Kelleher.
The promotion gives Pick, who is head of global sales and trading, oversight of investment banking in addition to trading at the bank.
The appointment also moves Pick into position to perhaps succeed Morgan Stanley Chief Executive James Gorman when he retires, according to analysts. Kelleher, who is roughly the same age as Gorman, is not expected to compete to succeed Gorman. He was named president of the bank in 2016.
Pick began his Morgan Stanley career in investment banking in 1990, and worked for a decade in global capital markets.
He eventually led that business and then went on to lead the bank’s institutional equities business, leading Morgan Stanley to the number one position globally.
In 2015 he took over fixed income commodity and currency trading and turned that business around after years of decline.
"Leading ISG is a natural next step," said Gorman and Kelleher in an internal memo obtained by IFR.
Pick’s promotion is one of several at the bank.
The bank also named Franck Petitgas head of international, also reporting to Kelleher in London. Franck started at Morgan Stanley in capital markets, has been co-head of investment banking since 2013.
Reporting to Petitgas will be Wei Sun Christianson and Gokul Laroia, co-heads of Asia Pacific; Jon Kindred, head of Japan; John Moore, head of Latin America; and Clare Woodman, head of EMEA.
Susie Huang was named co-head of investment banking, alongside Mark Eichorn, reporting to Pick. She was most recently head of M&A, Americas. Susie will join Mark on the Firm’s Operating Committee.
Separately, Pick named Gokul Laroia, David Russell and Alan Thomas as the global co-heads of the institutional equities division. (Reporting by Philip Scipio Editing by Jack Doran)