Morgan Stanley MS Co-President Andy Saperstein has been diagnosed with cancer but plans to keep working while receiving treatment, a spokesperson from Morgan Stanley confirmed on Tuesday. Saperstein, 56, said he’s young and otherwise in good health and is starting treatment, so he can put the illness behind him and continue at the firm, according to an internal memo initially reported by Bloomberg and confirmed by the company. Earlier this week, Saperstein named Jed Finn as head of wealth management. Saperstein is co-president of the firm as one of three senior executives that had been considered to take over from retiring James Gorman as chief executive. Morgan Stanley on Oct. 6 named Ted Pick as incoming chief executive, with Saperstein as head of wealth and investment management and co-president with Dan Simkowitz, who is also head of institutional securities. Morgan Stanley’s stock was down 0.7% in recent trades.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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