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Registered Rep.
August 12, 2005
Kristen French |
Morgan Pink-Slips Brokers, Clients Reassigned New Morgan Stanley CEO John Mack made his first big move on Morgan's rank-and-file this week, instructing branch managers to dismiss approximately 1,000 brokers.   |
Registered Rep.
July 11, 2005
John Churchill |
More Changes at Morgan Stanley The resignation of Morgan Stanley's co-president Stephen Crawford and the disclosure of his pay package cause public comment on the unusual nature of events and anger among employees and shareholders alike. Chairman John Mack works to retain top people. |
Registered Rep.
November 1, 2005
Kristen French |
Bonus Bait Morgan Stanley is planning to offer bonuses to brokers who expand their production in 2006. |
Registered Rep.
June 28, 2005
Kristen French |
Mack as CEO Could be Retail Champion John Mack, the rumored favorite of Morgan Stanley's board for the CEO slot, could be a blessing for the firm's retail brokers if he gets the job. |
Registered Rep.
August 10, 2005
Kristen French |
Sources: Morgan Cuts Slated for Thursday Morgan Stanley's human resources department created a performance-based formula for selecting the 1000 people to let go. |
Registered Rep.
June 30, 2005
John Churchill |
Mack Back, Officially John Mack, former head of Morgan Stanley, returns hoping to quiet employee dissent and questions in the media about the firm's direction. |
Registered Rep.
July 26, 2005
Kristen French |
Morgan Trainee Program Could Get Whacked John Mack is moving quickly to get Morgan Stanley's ailing retail brokerage in shape. |
Registered Rep.
July 28, 2005
Kristen French |
Morgan Confirms Trainee, Broker Cutbacks In an internal memo, co-president Zoe Cruz announced the company would reduce the number of trainees it hires to 1,000 in 2006, from 2,400 this year, while continuing to recruit experienced brokers who focus on high-net-worth clients. |
Registered Rep.
December 1, 2005
Kristen French |
Morgan Stanley: Tomorrow Is Another Day In this survey, the management upheaval and culling of broker ranks shows in the grades Morgan brokers give their firm. |
Registered Rep.
July 21, 2005
Kristen French |
On the Gossip Trail: Mack to Replace Schaefer--But With Whom? When Morgan Stanley announced that the head of its struggling retail brokerage unit was stepping down, Wall Street immediately began speculating about who will be chosen as his successor -- and what that successor might augur for the retail brokerage. |
Registered Rep.
November 21, 2002
Rick Weinberg |
Morgan Stanley Firing 950 Brokers Morgan Stanley is firing 950 brokers, according to the various sources. |
Registered Rep.
December 1, 2005
Kristen French |
Morgan Brokers Still Heading for Exits There has been a parade of top brokers who have left Morgan Stanley in recent months. The losses, which began under embattled former CEO Phil Purcell, have not abated since his replacement, John Mack, arrived in June. |
Registered Rep.
August 17, 2005
Kristen French |
Gorman to the Rescue? Now that James Gorman has been selected as the future head of Morgan Stanley's retail brokerage, what will he do to turn it around, and can he pull it off? |
Registered Rep.
February 9, 2006
Kristen French |
Cruz and Scully Named Morgan Co-Presidents -- With Gorman in the Wings The appointments help clear up an uncertain management picture. The arrival of James Gorman next week as retail chief reporting to Cruz should help even more. Questions still exist, though. |
Registered Rep.
June 1, 2005
Kristen French |
Star Wars Recruiting competition between the top brokerage firms is fiercer than ever, and Morgan Stanley is currently wielding one of the most powerful deals on Wall Street. |
BusinessWeek
July 3, 2006
Emily Thornton |
Mack Attack Buttressed by better earnings, a hungry Morgan Stanley is winning over critics. |
Registered Rep.
June 13, 2005
Kristen French |
With Purcell to Resign, Who's Up? After months of fighting for Morgan Stanley CEO Philip Purcell's resignation, the Group of Eight dissident shareholders finally got what they wanted: Purcell announced that he was stepping down once a successor could be named. |
Registered Rep.
May 17, 2005
Kristen French |
Throwing Its Weight Around: Morgan Stanley Pulls Ads From Media That Cover Its Woes Is Morgan Stanley, the subject of almost daily news reports since March, trying to silence its critics? |
The Motley Fool
April 1, 2005
Tom Taulli |
Et Tu, Morgan Stanley? It's a palace revolt at Morgan Stanley. But we should probably not feel too sorry for CEO Philip Purcell, who made about $22 million last year. If he loses, he will not suffer the fate of Caesar but will have a very big payday instead. |
Registered Rep.
August 30, 2005
John Churchill |
Retaining Those Pesky Emails Morgan Stanley is in for what could be a $10 million fine from the SEC for failing to retain emails, according to a report. |
Registered Rep.
April 8, 2005
Will Leitch |
Morgan Stanley Combatants Step Up Their Fight as Purcell Claims Victory Even though Morgan Stanley's board has said that it stands behind Philip Purcell as CEO, the group of dissidents calling for Purcell's ouster is digging in for a long, protracted fight for control of the company. |
Registered Rep.
April 8, 2004
Joan Warner |
Trouble In The House That Purcell Built? After suffering through a cruel bear market, Morgan Stanley has come under regulatory scrutiny and legal fire for practices in several key businesses in the past two years, including mutual fund sales. |
Registered Rep.
May 10, 2005
Kristen French |
Purcell Takes Stage, Tries to Rally Support Morgan Stanley's embattled CEO Philip Purcell tried to shore up shareholder support and squelch the almost daily flood of media speculation over the firm's future. But were shareholders convinced? |
BusinessWeek
April 11, 2005
Emily Thornton |
Purcell: Only Making It Worse Morgan Stanley CEO Philip J. Purcell's moves may be about self-protection, not performance. |
Registered Rep.
November 12, 2003 |
Morgan Stanley Launches Conflict-of-Interest Probe Morgan Stanley has announced it is conducting an in-house conflict-of-interest probe. |
Registered Rep.
September 13, 2006
Halah Touryalai |
Morgan Joins Inter-Brokerage TRO Pact This firm has officially opted to join the inter-brokerage pact, which stipulates that members will not sue brokers departing to other firms when they try to take their clients with them -- as long as they are moving to another firm named in the pact. |
Registered Rep.
March 1, 2005
Will Leitch |
A Sporting Chance Morgan's shareholders are testy now, and they are looking for someone to blame for the company's ills. Having taken a 46% raise in a year in which his company's stock dropped 8.2 percent, chairman and CEO Philip Purcell makes an easy target. |
Registered Rep.
November 10, 2005
Kristen French |
Morgan Stanley Waves Baby Carrot at Sales Assistants The brokerage announced plans to bump up the 2006 raise pool to 3.5 percent, and will offer an additional 5 percent to some underpaid SAs, starting in December. |
Registered Rep.
July 1, 2005
Kristen French |
Apres Purcell--Le Spinoff? Now that Morgan Stanley's CEO has given up, the future of the old Dean Witter organization is in question. Morgan Stanley remains under pressure to improve profitability and its stock price. |
Registered Rep.
October 1, 2006
Halah Touryalai |
Morgan Joins TRO Pact Morgan Stanley has officially opted to join the inter-brokerage pact, first created in the fall of 2004, which stipulates that members will not sue brokers departing to other firms when they try to take their clients with them. |
Registered Rep.
November 1, 2006
John Churchill |
Purcell Gives Up Some Gold Morgan Stanley shareholders who are still reeling from the $52 million exit package given to former president and CEO Philip Purcell will be happy to know he's giving a lot of it away. |
Registered Rep.
October 1, 2002
Rick Weinberg |
Morgan Stanley Boosts Pay for Fee Business Morgan Stanley unveiled a new compensation plan for brokers that rewards fee-based business and penalizes transactional business. |
Registered Rep.
April 20, 2006
Kristen French |
New Morgan Hire to Advance Dean Witter Integration James Gorman announced in a memo to employees that Donald Herrema will join the company on May 1 as the head of Private Wealth Management Americas, the U.S. and Latin America division of the old Morgan Stanley institutional group. |
Registered Rep.
September 10, 2009
Kristen French |
Gorman Grabs Morgan Stanley CEO Slot James Gorman, the former head of Morgan Stanley's retail brokerage division and now co-president of the firm, is slated to take over the CEO job in January, 2010. |
Registered Rep.
April 1, 2007 |
High Flying CEOs A research report takes issue with Morgan Stanley CEO John Mack's liberal use of the firm's flying fleet. |
Registered Rep.
February 21, 2006
Kristen French |
At Morgan Stanley, the Gorman Era Dawns At Merrill, James Gorman was able to take a top team and make it more effective -- at Morgan Stanley, he inherits a demoralized, decimated sales force that trails its peers in assets under management, productivity and profit margins. |
Registered Rep.
December 21, 2005
Kristen French |
For Morgan Retail, Fourth Quarter a Mixed Bag; More Purcell Directors Resign Despite a number of changes made to improve corporate governance at Morgan Stanley early this year, the board has come in for plenty of heat. The firm continues to lose talent and is paying out the nose to bring on new top producers. |
Registered Rep.
July 1, 2006
Kristen French |
James Gorman's First Marking Period In his first four months as head of Morgan Stanley's brokerage unit, James Gorman wasted no time showing that a new regime was in place. But he hasn't convinced all the troops that it's worth sticking around to see how his turnaround plans play out. |
U.S. Banker
June 2005 |
By Day, Man of Steel. At Night? Sweating Bullets. Philip Purcell's public assault by the Group of Eight, former Morgan execs who also wield shareholder clout, is about more than just the investment bank. It's about power, pride and the price of bad leadership. |
Registered Rep.
September 7, 2005
Kristen French |
Post-Purcell Shuffle Claims Marsh, More Morgan Directors to Follow? The changing of the guard at Morgan Stanley continues as leadership loyal to departed CEO Philip Purcell heads for the exits. |
Registered Rep.
September 1, 2005
Kristen French |
Gorman to the Rescue? Morgan Stanley brokers should expect a revolution when James Gorman takes the helm of the retail unit. |
Registered Rep.
September 22, 2005
John Churchill |
Morgan Stanley's Retail Unit Posts Mixed Third Quarter The company's retail brokerage recorded pretax tax profits of $30 million for the third quarter, a healthy 36% gain over last year, despite a continued exodus of advisors and large legal and regulatory costs. But client assets fell versus the prior quarter, an ominous sign. |
Registered Rep.
September 12, 2005
Kristen French |
More Adieus From Morgan Stanley Directors As expected, Morgan Stanley board members from the Philip Purcell era continue to decamp, with two more directors out. With these resignations, the board now has 11 directors. |
BusinessWeek
April 18, 2005
Emily Thornton |
Can Phil Purcell Change His Spots? Morgan Stanley's CEO needs to be more hands-on. You might think Purcell would make an effort to change his spots after all the recent commotion about him and his firm. But you'd probably be wrong. |
BusinessWeek
March 21, 2005
Emily Thornton |
Phil Purcell's Credibility Crisis Investors want Morgan Stanley's chief to beef up weak businesses -- or dump them. |
Registered Rep.
March 30, 2006
Kristen French |
Gorman Wields Knife Again Yesterday, new Morgan Stanley retail chief James Gorman unleashed a fresh round of cuts -- with more expected shortly -- as part of his efforts to right the faltering brokerage operation. |
Registered Rep.
April 27, 2004
Will Leitch |
Morgan, Restructuring Its Asset Management Unit, Closes 13 Funds Morgan Stanley announced it was dissolving 13 of its proprietary funds as part of its attempts to "streamline" its business for affluent investors. |
Registered Rep.
March 3, 2006
Halah Tourylai |
Third Wirehouse Coughs Up Millions In Overtime Cases Yesterday, Morgan Stanley became the third wirehouse, after Merrill Lynch and UBS, to settle class action suits with California brokers over overtime pay in the past seven months -- the second in three weeks. |
Registered Rep.
November 18, 2005
Kristen French |
Smith Barney Cuts Pay for Smaller Brokers The new pay scale was announced to brokers internally in October and will take effect in January. |
Registered Rep.
March 30, 2005
Will Leitch |
More Turmoil at Morgan Stanley In a shake-up that shocked even those who said they had seen such an explosion coming, the beleaguered Morgan Stanley CEO Philip Purcell watched two of his top executives resign in protest of his leadership on Tuesday. |
