Financial services company Morgan Stanley appointed Ted Pick as its new chief executive Wednesday. Effective Jan. 1, 2024, Pick replaces James Gorman, who has helmed the $1.1 trillion financial institution since 2010, according to an Oct. 25 Morgan Stanley release. 

Pick has served as co‐president of Morgan Stanley for the past two years, overseeing the investment banking, equities, fixed income, capital markets and research segments. He joined Morgan Stanley in 1990 and was promoted to managing director in 2002.

“After undergoing a multiyear, intentional succession process, we determined that Ted Pick is best suited to be the next CEO of Morgan Stanley,” Dennis Nally, chair of the compensation, management development and succession committee of the Morgan Stanley Board of Directors, said in the release.

Plaid brings in new CFO from Expedia

Fintech Plaid has tapped former Expedia Chief Financial Officer Eric Hart as its new CFO, according to an Oct. 18 post by Plaid CEO Zachary Perret on X, the platform formerly known as Twitter.

Hart told Bank Automation News that his experience anchored around companies that are managing through an industry transformation will help him scale Plaid’s business to new heights. 

“Financial institutions that are Plaid customers is one of our fastest growing segments, and we are just getting started as we expand further into payments, lending and antifraud,” Hart said. “There is a multiproduct opportunity for our customers and I’m excited to help them achieve these goals.” 

The majority of the top 10 banks in the United States are Plaid customers, including JPMorgan, Wells Fargo and CapitalOne, according to the company’s website. 

Grasshopper appoints Deibel SVP

Grasshopper, a digital bank serving small businesses and startups, has hired Matthew Deibel as its senior vice president of sponsor banking, according to an Oct. 24 release.

Deibel will be responsible for growing and managing Grasshopper’s expansion into private equity lending, the release stated. 

The bank has an edge over traditional commercial banks due to Grasshopper’s “efficiency, adaptability and a mindset of embracing constant change,” Deibel told BAN. 

“Over the next six to 12 months, I want to put a meaningful amount of capital to work supporting high-quality credits while developing strong relationships with top-tier investment partners,” Deibel said. “Over the long term, I expect … Grasshopper to be a leader in senior debt financing for the lower middle market, holding entrenched relationships with marquee institutions.” 

Prior to joining Grasshopper, Deibel was a director at Modern Bank, a privately owned commercial wholesale bank, according to his LinkedIn profile. 

Arteria AI taps Goldman Sachs veteran Mansfield

Digital documents analyzing company Arteria AI has selected Donna Mansfield to become its strategic account director as the company grows, according to a recent company release.

Mansfield will support the company’s go-to-market function with a focus on large financial institutions, an Arteria spokesperson told BAN. 

“We expect that her understanding of the problem set and the needs of financial institutions will provide us with a valuable input into our product,” the spokesperson said. 

Mansfield told BAN her experience “helping traders and bankers get data out of documentation processes” will help in her new role. 

Prior to joining Arteria AI, Mansfield served at Goldman Sachs as managing director for solutions and digital transformation as well as derivatives documentation.  

“Financial institutions have been burdened by the traditional way that the problem statement has been tackled,” Mansfield said. “Arteria’s approach to turn documents into data is a true differentiator in the market and unlocks a huge suite of transformative opportunity.” 

Payments provider dLocal names Benetti SVP

Payments company dLocal has appointed Justo Benetti as its new senior vice president and head of the Americas, according to the company’s Oct. 3 press release. 

Prior to joining dLocal, Benetti served as vice president of strategic solutions at Worldpay, a global payments company, and has worked for Accenture and FIS.

The Montevideo, Uruguay-based dLocal has hired Benetti to help with the company’s plan to scale operations rapidly, a dLocal spokesperson told BAN. 

“Justo has proven he is an impactful contributor to North American business development from his past roles, which provides a huge opportunity for dLocal’s continued ecommerce growth in the Americas and LATAM,” the spokesperson said. 

Benetti plans to focus on the needs of merchants and the attractiveness of potential new markets, he told BAN. 

DLocal provides over 900 payment methods in 40 countries and has seen strong demand for the company’s solution in Africa and Asia, he said. 

The Clearing House appoints Weichert CPO

Real-time payments consortium, The Clearing House has appointed Margaret Weichert as its new chief product officer, according to the company’s Oct. 30 release. 

Weichert joins TCH from Accenture where she served as the consultancy group’s North American payments practice lead.

At TCH, Weichert will be responsible for product development for the company’s payment products, like RTP, ACH, and check clearing along with scaling the adoption of RTP. 

“I’m happy to bring my experience working with various industry constituents to continue to provide innovative products across all of TCH’s payments networks and to help accelerate the impressive growth of the RTP network,” Weichert said in the release.