Update: John Mack's attempt to revitalize Morgan Stanley
So how is John Mack faring at Morgan Stanley? The early accounts were fairly positive. He was certainly saying all the right things, especially to the beleaguered retail brokerage staff. It's fair to say that his job will only get harder. One challenge early on is Zoe Cruz, who was a polarizing figure toward the end of the Phil Purcell reign. Apparently, Mack has been unsuccessful in bringing back key executives because Cruz still exists at the firm. Mack seems committed to her, and seems very comfortable with her as president. Many expect a co-president to be appointed at some point.
> Here's the Newsweek article.
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