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A stock guy is behind Morgan Stanley's bond trading comeback

Published 06/19/2017, 08:56 AM
© Reuters.  A stock guy is behind Morgan Stanley's bond trading comeback
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  • This just in: Morgan Stanley (NYSE:MS) has had four consecutive quarters of fixed-income revenue north of $1B - the longest streak since 2010. Since the promotion of Ted Pick in 2015 - he now oversees both stock and debt trading - the bank's market share in fixed-income among the five big U.S. firms has doubled.
  • Source: Liz Hoffman in the WSJ
  • Q2's near an end, and word from shops like Citigroup (NYSE:C) and JPMorgan (NYSE:JPM) suggests a sizable industry slowdown. Pick has been telling associates the trading operation has "omentum," i.e.momentum with an "m" so small, it's invisible.
  • In any case, Pick's success - the 48 year-old has been at Morgan Stanley for his entire career - has likely put him on the short list of those possibly succeeding CEO James Gorman (who has hinted he wants to stay on for a few more years).
  • Now read: Morgan Stanley (MS) Presents At Morgan Stanley Financials Conference - Slideshow


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