What Does Morgan Stanley’s Leadership Change Mean for the Wealth Unit?

Morgan Stanley’s decision to select Ted Pick as the bank’s next CEO hasn’t triggered any high-profile executive departures – which such leadership moves tend to bring – and analysts expect a relatively smooth transition and minimal disruption for the wealth unit. Having both wealth and investment management report to the same person will mean Morgan Stanley has to “walk [a] fine line” to ensure that the bank’s wealth unit continues to not favor proprietary products above those of other asset managers, said Pat Newcomb, a relationship manager at FUSE Research.

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Article published on October 30, 2023