Morgan Stanley's hard-charging trading boss Ted Pick is set to succeed CEO James Gorman. AdvertisementAdvertisementFive months after Morgan Stanley's James Gorman announced he was stepping down, the pick is in. AdvertisementAdvertisementPick is credited with transforming Morgan Stanley's key equities and fixed-income businesses. Morgan Stanley has declined to comment aside from stating earlier this year that the bank was cooperating with regulators. At a bank that prizes loyalty perhaps more than any other, a trader who "bleeds Morgan Stanley blue" may be a welcome choice.

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