Morgan Stanley’s new boss Ted Pick will be hoping for market calm amid interest rates, inflation challenge

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Ted Pick, who takes over from James Gorman on January 1, will be hoping the new year brings calm to global markets. But right now, that’s hard to see.

First, his beloved Collingwood Magpies won the AFL premiership. Then, he delivered a final victory for the firm he’s run for 15 years.

Partly that’s because Pick, who had been Gorman’s chief lieutenant, was widely anticipated to get the top job. Following a 30-year career at Morgan Stanley, which has included turning around its fixed income business in the wake of the GFC, Pick is clearly deeply experienced, but local insiders also describing as having an extremely high intellect.

“The minute you see the Fed indicate they’ve stopped raising rates is when the M&A and underwriting calendar will explode, because there is enormous pent-up activity,” he declared.

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