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Morgan Stanley just promoted a leading contender to eventually succeed CEO James Gorman

Hugh Son

Trading chief Ted Pick named head of entire institutional securities group. Pick, 49, has been steadily adding responsibilities at Morgan Stanley since helping the firm regain the No. 1 ranking in equities trading. Morgan Stanley MS gave trading chief Ted Pick added responsibilities over investment banking activities, including merger advice, in a sign he is a leading contender to eventually succeed Chief Executive Officer James Gorman .

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