• 28 Apr 2014 at 5:37 PM
  • Banks

James Gorman Doesn’t Do It All By Himself

Meet the loyal Morgan Stanley executive behind this feat of Goldman-baiting.

The equities division puts buyers and sellers together in the $60 trillion dollar global stock market, while also handling stock derivatives, big blocks of shares and hedge-fund relationships. Once overshadowed by flashier businesses at the New York bank, Mr. Pick’s unit has emerged from the crisis as one of its biggest growth engines….

The shift has played to Morgan Stanley’s strengths and helped catapult Mr. Pick, an executive known for his fierce devotion to the firm where he has spent his entire career, into a leading role….

Under the direction of his mentor, Colm Kelleher, who now heads the firm’s securities business, Mr. Pick and his team remade the prime brokerage, which provides services and loans to hedge funds. They also invested heavily in electronic-trading platforms and led Morgan Stanley’s traders back to the riskier corners of the business, including derivatives and block trades.

The revival, also engineered by top lieutenants such as top sales executive Richard Portogallo and head trader Sam Kellie-Smith, has put Mr. Pick’s name in the mix for bigger jobs at the firm, executives said, even if no promotion is imminent. He remains very close to Mr. Kelleher, and in his former role was among the bankers who secured key capital infusions for the firm during the crisis.

Equities Boss Has Helped Lead Morgan Stanley’s Turnaround Since Crisis [WSJ]

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  1. Posted by Owebummer | April 28, 2014 at 5:45 PM

    Thanks again Obama