Appointment of a New CEO at Morgan Stanley

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James Gorman appoints Ted Pick as his successor at Morgan Stanley, with Dan Simkowitz and Andy Saperstein becoming co-presidents. The chapter delves into the challenges of the global economy and expectations for Pick's leadership.

FTX founder Sam Bankman Fried gave a preview of his defence against fraud charges, the US is worried that Iran and its proxies will escalate attacks on American forces in the Middle East, and the FT’s Josh Franklin explains what Morgan Stanley’s leadership change means for the company.

Mentioned in this podcast:

Sam Bankman-Fried previews ‘advice of counsel’ defence in FTX fraud trial

Morgan Stanley makes its choice: how Ted Pick won the succession race

US moves to deter Iran ahead of Israel’s invasion of Gaza

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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