Morgan Stanley introduced on Wednesday that Ted Decide will begin as CEO on January 1, taking on from James Gorman, who served within the place since 2010.
In Could, Gorman, 64, introduced his intentions to step down as CEO throughout the 12 months, including that he’ll tackle the position of govt chairman for a “time period” amid the transition.
In response to the announcement, Gorman expressed his assist for Decide, describing the board’s choice as “excellent.” He highlighted his lengthy historical past of collaboration with Decide, and his values, intelligence, and dedication.
Ted Decide has been with Morgan Stanley for over three many years. Jeenah Moon/Bloomberg | Getty Photos.
“I’ve labored facet by facet with Ted for the reason that monetary disaster and have skilled first-hand his values, mind, ardour, and dedication to our folks and our shoppers,” Gorman mentioned in an announcement. “He’s battle-tested, understands complicated danger, and works very successfully not simply within the U.S., however across the globe. In brief, he’s an impressive govt and chief.”
Decide emerged because the chosen chief over Andy Saperstein and Dan Simkowitz, The New York Instances reported, who lead the wealth administration and asset administration divisions, respectively.
Who’s Ted Decide?
Decide, a graduate of Middlebury School and an MBA alumni of Harvard Enterprise Faculty, boasts a prolonged profession with Morgan Stanley, having been accountable for overseeing varied facets of the corporate together with funding banking, equities, mounted revenue, capital markets, and analysis, per CNN.
Decide first joined Morgan Stanley in 1990, and by 2002, he was promoted to managing director, and in 2008, he grew to become part of the administration committee. Throughout the monetary disaster of 2008, Decide performed a pivotal position in serving to the financial institution safe capital because it grappled with the specter of collapse, per Reuters. In 2012, he attained a place on the working committee, which contains the financial institution’s most senior leaders.
In 2015, Decide was appointed the worldwide head of gross sales and buying and selling, incomes credit score for orchestrating a exceptional turnaround of the financial institution’s fixed-income division.
For the previous two years, Decide has served as co-president of Morgan Stanley.