This week marks the culmination of an unusually smooth executive transition for a Wall Street bank, as Morgan Stanley’s new CEO Ted Pick stepped into his new role after outgoing chief James Gorman left.
The decision, which was announced in May, was hailed as a model transition because it involved little internal turmoil and avoided the infighting that can sometimes accompany corporate succession. Pick took over from Gorman on New Year's day, with Gorman staying on as executive chairman.
