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Phil Purcell
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Latest Headlines
Is it good to be Jamie Dimon?
He's on top of the industry. Here's a telling quote from a money manager in a lengthy paean from TheStreet.com: "Dimon is just a superior manager. Jamie Dimon has, to a large degree, been able to hold onto his reputation," while the reputations of contemporaries like Vikram Pandit and Ken Lewi
Who will run Morgan Stanley?
Morgan Stanley CEO John Mack turns 65 this year. Breakingviews raises the issue of succession. The board would be wise to consider this now. One obvious frontrunner would be James Gorman, who runs the asset management and brokerage arm. He reminds some of Phil Purcell--who didn't fare so well.
Morgan Stanley faces a new era
There was a day, not too long ago, when Goldman Sachs and Morgan Stanley were mentioned in the same breath--the twin powers of Wall Street. But over the past year, Morgan Stanley has stumbled, while Goldman Sachs has continued to soar. In many ways, Goldman now stands alone.
What
O'Neal join illustrious ranks of ousted CEOs
On Wall Street, life can change in a blink. One minute Stanley O'Neal is on top of the industry. A few quarters later, he's been dusted. But he is hardly alone. Financial News Online has put together a list of other notable CEOs who have been pushed out for one reason or another. The list include
Morgan Stanley hungry for more risk?
Last quarter, Morgan Stanley's average trading VAR rose about 30 percent from a year earlier to $81 million. This is not out of whack compared with other firms' VARs. But it does indicate that
Morgan Stanley's 2005 rebels
Remember the heady days of Phil Purcell's final stand at Morgan Stanley . A group of big-name executives, infuriated that Purcell would not step down, quit in protest, charging that the then-CEO had ruined the firm. Well, what has become of the rebels? It's fair to say that there is life after
Morgan Stanley still paying for Purcell
Phil Purcell is gone, but his expenses remain. A recent proxy shows that Morgan plans to pay almost $8 million (as part of a larger exit package) in secretarial services, annual salaries and
Cruz thrives at Morgan Stanley, despite odds
Morgan Stanley CEO John Mack appointed the firm's vice chairman of investment banking, Robert Scully, as the co-president of the Wall Street firm. He will serve alongside Zoe Cruz, who has survived the transition from Phil Purcell to Mack in fine fashion. She is one of Wall Street's brightest fema
Mack reconfiguring Morgan Stanley board
The latest sign that John Mack has consolidated his power base at Morgan Stanley: Directors Edward Brennan, John Madigan, and Miles Marsh have all stepped down. All three--along with the recently
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 fi
