Morgan Stanley boss James Gorman anoints possible successors

Morgan Stanley chief executive James Gorman named longtime deputies Ted Pick and Andy Saperstein as co-presidents — setting up a race to succeed him at the helm of the Wall Street giant.

Pick, 52, will continue to lead institutional securities but will also be promoted to oversee Morgan Stanley’s international operations as co-head of firm strategy and execution. Saperstein, 54, runs the company’s wealth management division and will now assume responsibility for global marketing. Both men have been critical in Morgan Stanley’s comeback after the financial crisis — with Pick building up the company’s stock trading business and Saperstein transforming the firm’s wealth management division over the last decade.