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Ted Pick, CEO – Morgan Stanley |
Ted Pick has officially assumed his position as Morgan Stanley’s new CEO.
Mr Pick, a three-decade company veteran, joined Morgan Stanley as an analyst in 1990, before being promoted to managing director in 2002 and then rising to the bank’s management committee in 2008. In 2012, he joined its operating committee, which includes the bank’s most senior executives. He most recently served as co-president since 2021, and led the bank’s institutional securities group, which includes investment banking and trading activities.
In 2015, Mr Pick assumed the role of global head of sales and trading, earning recognition for orchestrating a successful turnaround of the bank’s fixed income division. Additionally, he oversaw equity capital markets, during which he was credited with elevating the business unit to a leading global position. Amid the 2008 financial crisis, he played a crucial role in securing capital for the bank, mitigating the risk of potential collapse.
He succeeds former CEO James Gorman, who has become executive chairman of Morgan Stanley for a transitional period and will also join the board of Disney in February.
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Lord Adair Turner, chairman – OakNorth |
OakNorth, a London-based digital bank for small and medium-sized businesses, backed by Softbank, has appointed former UK Financial Services Authority (FSA) head Lord Adair Turner as its new chairman. He rejoins the bank after serving on its advisory board for several years until 2017.
Lord Turner’s experience in financial services include stints as a vice-chairman of Merrill Lynch Europe, a board director at Standard Chartered and chair of the FSA, a position he assumed during the 2008 financial crisis.
OakNorth’s current chairman, Cyrus Ardalan, will step down at the end of 2024 after eight years in the role.
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Jason New, managing director and vice-chairman of investment banking – Lazard |
Kevin Glodowski, managing director – Lazard
Financial advisory and asset management firm Lazard has bolstered its restructuring unit with the hiring of two new managing directors.
Jason New, who most recently co-founded digital asset investment firm NovaWulf Digital Management and was previously CEO of Onex Credit Partners, will become vice-chairman of investment banking. Prior to Onex, he spent 15 years at Blackstone as a senior managing director.
Kevin Glodowski joins from Rothschild & Co, where he served for more than a decade and was most recently a managing director within its restructuring and debt-advisory group.
The new appointments kickstart an initiative to enhance Lazard’s restructuring and liability-management business by hiring 10 new managing directors for financial advisory this year. The initiative forms a key component of CEO Peter Orszag’s long-term goal to double the firm’s revenue by 2030.
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Helen Bierton, director of everyday banking – Lloyds Banking Group |
Lloyds Banking Group has appointed former Starling Bank executive Helen Bierton as director of its ‘everyday banking’ service, which comprises its retail savings and current accounts offerings.
Ms Bierton joins from UK challenger Starling Bank, where she was promoted to chief banking officer in 2018. Ms Bierton managed the bank’s product and partnership developments, as well as its business-to-business banking services.
Prior to that, she spent nine years at Santander, culminating in a stint as director of products, overseeing services for small and medium-sized businesses.
