NEW YORK, June 10 (Reuters) - Morgan Stanley ( MS ) CEO Ted
Pick told investors on Tuesday he expected the Wall Street bank
to have a strong end to the quarter after U.S. tariff
announcements paused activity in April.
"I'm super pumped up about the businesses," Pick said at an
annual financial conference hosted by his bank. Dealmaking and
the calendar for equity capital markets are picking up, while
deal discussions have stayed resilient and become more active in
some areas, he added.
Morgan Stanley ( MS ) is the lead underwriter of financial
technology company Chime's initial public offering, which is
expected to close later this week and raise as much as $832
million.
The bank also led IPOs for Hinge Health, raising $437.3
million, and marketing tech firm MNTN, which raised $187.2
million, in May.
"We had maximum tariff volatility through the first half of
the quarter," he said, adding deals were paused through April
and part of May. That has been changing over the last weeks.
On M&A, Morgan Stanley ( MS ) advised financial firm TJC in the
sale of Silvus Technologies to Motorola for $5 billion and AT&T
on the $5.75 billion acquisition of Lumen Technologies' consumer
fiber operations.
Pick also cited the bank's role in advising Toyota's special
board committee on the proposal to take the company private.
The Morgan Stanley ( MS ) CEO said changes in the banking
regulatory framework would be welcome, and that if rules to
calculate the supplementary leverage ratio, known as SLR,
change, the bank may be able to analyze potential acquisitions.
Pick has been one of the most optimistic CEOs during market
volatility after the announcement of tariffs. While presenting
strong first-quarter profit in April, he said he was
"cautiously optimistic that we won't go into recession".
Morgan Stanley ( MS ) reported record equity trading revenue in the
first quarter, with a 45% jump from a year earlier. Pick took
the helm as CEO a year and a half ago, and last month also
became chairman of the board as former Chairman and CEO James
Gorman left the bank.
Gorman had turned Morgan Stanley ( MS ) into a wealth management
behemoth during his tenure, raising the bank's profits and
turning results more predictable.
Last March, Morgan Stanley ( MS ) began laying off 2,000 employees,
around 3% of its global workforce, to improve operational
efficiency. The bank followed decisions by Wall Street rivals to
cut jobs to prepare for a potential downturn.