Morgan Stanley (MS) has named Co-President Ted Pick to assume the role of CEO to succeed James Gorman, effective January 1, 2024. Over 1,400 CEOs have left their jobs in 2023 alone, as the Great Resignation moves on to the C-suite. Puck News Founding Partner William Cohan sits down with Yahoo Finance Live to discuss the role of a CEO and the great amount of detail and care that went into choosing Pick as Gorman's successor. "Ted Pick has done a pretty darn good job resurrecting Morgan Stanley's investment banking business and trading business since the near calamity of the 2008 financial crisis," Cohan says. "So I wasn't surprised that he got the job because I think the pendulum does swing back and forth — James Gorman was an asset management, wealth management guy, and, so, now time for Ted Pick, the investment banker, to take control." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.