The Race for the Top Spot at Morgan Stanley

James Gorman’s rumored stepping down as CEO of Morgan Stanley over the next 12 months has sparked a three-way horserace for the throne. It’s a Wall Street face-off between Andy Saperstein, Ted Pick, and Dan Simkowitz.

Saperstein, mentored by Gorman across three companies, transformed wealth management into a gold mine, contributing massively to the firm’s market value. However, he needs to prove he’s more than Gorman’s protégé and can pull off big scores without him.

Ted Pick, the underdog who made good, led Morgan Stanley’s revival against Goldman Sachs, turning the flagging equities unit into a market leader. But the stain of the 2021 Archegos debacle and a block trading probe linger.

Lastly, Simko – Simkowitz – a three-decade Morgan Stanley stalwart, he’s had a hand in everything from capital markets to asset management. Known for crisis management during the 2008 meltdown, he’s the bank’s all-rounder.

The successor has big shoes to fill, building on Gorman’s legacy that pulled Morgan Stanley out of its financial crisis slump. As this corporate Game of Thrones unfolds, the stakes couldn’t be higher. Watch this space!