Morgan Stanley Wealth Business Scrutinized By Fed, WSJ Says

At Morgan Stanley, the wealth business is the biggest engine at the firm, responsible for almost half the revenue over the last year. Ted Pick is set to become the next chief executive officer starting in January, replacing longtime chief James Gorman, who spearheaded the bank’s wealth management expansion that has reshaped its identity into a global powerhouse in tending to the fortunes of the wealthy.

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