Squawk Pod Reports from Davos: Morgan Stanley’s Ted Pick 01/18/24

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 18 January 2024

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

In a special episode of Squawk Pod, Joe Kernen, Becky Quick, and Andrew Ross Sorkin are at the World Economic Forum in Davos, Switzerland, where they’re speaking with Morgan Stanley’s new CEO Ted Pick. In his first interview as the bank’s chief, Pick discusses his predecessor James Gorman’s legacy and his strategy for growing the bank moving forward. After the company’s latest quarterly report, Pick explains his plans for the company’s wealth management business, as well as his projections for dealmaking in the quarters ahead. In this episode: Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	14 years of Mr. Gorman putting it back together transforming the firm but also
0:08.8	keeping what was good. Number one for me is don't change the strategy.
0:12.2	It's working.
0:13.4	Morgan Stanley's new CEO, Ted Pick, at the World Economic Forum in Switzerland.
0:19.4	He's giving his first interview since taking over from James Gorman and it's on our TV
0:25.4	broadcast on my bucket list to be on swap box and here I am. Ted Pick is taking
0:30.7	top office at Morgan Stanley after over 30 years at the firm.
0:35.6	It's the only job I ever had, so I'm really grateful.
0:38.1	They've kept me.
0:39.1	How he'll be running the bank and what he's expecting for deal-making in the quarters ahead.
0:44.0	People want to scale up, the world got smaller, you're going to want to purify it as a backlog of sponsor
0:49.0	activity, you has to get sold, they're taking public companies that want to merge with the right partners they need to get regulatory authority. get
0:53.7	public companies that want to merge with the right partners and need to get
0:53.7	regulatory authority and they don't know what comes next.
0:55.9	So actually I think the pace of activity kind of advisory tickets that you know
0:59.9	very well. I think that's going to quicken.
1:01.8	I'm C. NBC producer Cameron Costa.
1:04.4	Squack Pod reports from Davos, Morgan Stanley's CEO Ted Pick begins right now. The 54th World Economic Forum in Switzerland has been a true meeting of the world's greatest minds.
1:25.4	Business and political giants convened in the Alps and on our C.
1:29.4	NBC Squackbox set.
1:30.8	Leaders like J.P like JPMorgan CEO Jamie Diamond. I think it's a mistake to assume
1:36.4	that everything's hunky-dory. You can catch that full conversation in another
	...

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