
Incoming Morgan Stanley chief executive Ted Pick is set to inherit a bank that is in far better shape than when his predecessor James Gorman took it on 14 years earlier. Unfortunately for Pick, the lender also faces far greater challenges than it did a year ago.
“You could argue James has top ticked this thing,” said one former Morgan Stanley banker who has worked with both men, using the Wall Street jargon for when an asset is traded at its peak price.
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