"Morgan Stanley's CEO Ted Pick Confident in Meeting Financial Targets and Growth Without M&A"

Morgan Stanley's new CEO, Ted Pick, is confident in the bank's ability to achieve its financial targets of $10 trillion in client assets and a 20% return, emphasizing the importance of sticking to the strategy, maintaining the bank's culture, and achieving these goals. Pick highlighted the firm's unique combination of wealth management and investment banking as its "secret sauce," and expressed optimism about an expected rebound in corporate mergers and related activities. He also suggested that the U.S. economy may be past peak inflation and hinted at the possibility of the Federal Reserve cutting rates faster than anticipated due to weakening data.