UBS named former Morgan Stanley President Colm Kelleher on Saturday as its surprise pick to succeed Axel Weber as chairman of the world's biggest wealth manager when his mandate ends in April.
Morgan Stanley CEO shakes up leadership with eyes on a successor americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
by Tyler Durden
Thursday, May 20, 2021 - 01:52 PM
In a move apparently engineered to preempt shareholder concerns in the wake of JPM s succession-planning-oriented shakeup (CEO Jamie Dimon has said he won t retire for at least another five years, though he had a heart attack during the COVID crisis last March), Morgan Stanley is planing a similar move as CEO James Gorman positions two key lieutenants as possible successors.
Ted Pick, Daniel Simkowitz, Andy Saperstein and Jon Pruzan
Bloomberg reports that Ted Pick, billed as the architect of Morgan Stanley s trading revival, and Andy Saperstein (who has helped grow the firm s wealth management business) have been tapped as co-presidents and given expanded roles atop Morgan Stanley, in a changeup that mirrors the co-president structure that s common on Wall Street.
Morgan Stanley CEO Gorman revamps leadership investmentnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentnews.com Daily Mail and Mail on Sunday newspapers.