Ted Waterman is Elyse Keaton's boss at the architecture firm. He is the replacement of Karen Banks.
In The Big Fix, it's mentioned that although Elyse quit the firm to have Andrew Keaton, she was brought back as a part-time consultant, allowing her to work while still spending plenty of time with her kids.
In Once in Love with Elyse, Ted sell's Paul's design of two towers connected by a seventeenth-story walkway to Susan.