Ted Pick and Andy Saperstein were named co-presidents at Morgan Stanley, part of a series of executive moves within the firm.
Effective June 1, they replace Colm Kelleher, who retired as president in June 2019, confirmed Morgan Stanley spokesman Mark Lake.
Mr. Pick will be responsible for Morgan Stanley's international operations and co-lead the firm's strategy and execution group along with Head of Investment Management Dan Simkowitz. Meanwhile, Mr. Saperstein will be responsible for all wealth management businesses and global firmwide marketing.
Messrs. Pick and Saperstein will both report to Morgan Stanley Chairman and CEO James Gorman.
Mr. Pick leads Morgan Stanley's Institutional Securities business, while Mr. Saperstein leads the company's wealth management business. They will continue to assume these responsibilities.
In addition, Jonathan Pruzan was named chief operating officer, being the firm's first COO since Jim Rosenthal retired in 2016.
Mr. Pruzan was chief financial officer. He will be replaced by Sharon Yeshaya, Morgan Stanley's head of investor relations.
Shelley O'Connor was named a vice chairman of Morgan Stanley and head of external affairs. The position is new.
Ms. O'Connor will be responsible for community affairs, corporate affairs, global sustainable finance and the multicultural client strategy group.
Ms. O'Connor was head of U.S. banks at Morgan Stanley. She will be replaced by Mike Pizzi, who joined Morgan Stanley through its acquisition of E-Trade Financial.