By Matt Grossman

Morgan Stanley Thursday named Ted Pick and Andy Saperstein co-presidents of the Wall Street institution and said that Chief Financial Officer Jonathan Pruzan will become the chief operating officer.

James Gorman, Morgan Stanley's chairman and chief executive, said that the appointments reflect the bank's next generation of leadership.

Mr. Pick leads Morgan Stanley's institutional-securities business. He will now also be responsible for international operations and become the co-head of strategy and execution, Morgan Stanley said.

Mr. Saperstein, the leader of Morgan Stanley's wealth-management business, will now be responsible for all wealth management channels, including financial advisors, the E*TRADE digital trading platform and Morgan Stanley's workplace financial-solutions arm. Mr. Saperstein will also take charge of global marketing.

Dan Simkowitz, Morgan Stanley's head of investment management, will be the other co-head of firm strategy and execution, along with Mr. Pick, the company said.

Mr. Pruzan, the chief financial officer at the bank, will become its chief operating officer and will be responsible for technology, operations and resilience, as well as Morgan Stanley's U.S. banks and corporate services.

Sharon Yeshaya, the current head of investor relations, will succeed Mr. Pruzan as CFO.

Morgan Stanley also named Shelley O'Connor, the current head of U.S. banks, as vice chairman and head of external affairs. Mike Pizzi, an executive who joined Morgan Stanley in its E*TRADE acquisition, will become head of U.S. banks.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

05-20-21 0908ET