Morgan Stanley CEO Says He Might ‘Slightly’ Up Pace of Buybacks

Morgan Stanley Chief Executive Officer Ted Pick said his bank might buy back shares at a “slightly higher cadence” after repurchasing just over $1 billion in the third quarter.

The bank reauthorized a multiyear share repurchase program of as much as $20 billion in early July, after passing the Federal Reserve’s annual stress tests along with its biggest rivals.

Pick said during a call discussing earnings on Wednesday that internal investments continue to be the bank’s best use of capital. On Tuesday, JPMorgan Chase & Co. Chief Financial Officer Jeremy Barnum had reiterated his bank’s view that its leaders “don’t ...