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March 31, 2005

Morgan Stanley is falling apart

Phil Purcell is not very inspirational [NYT]

A long-simmering dispute over the direction of Morgan Stanley erupted in a public brawl yesterday, as two senior executives resigned in a shake-up intended to reassert Mr. Purcell’s control.

Failure of leadership [Bloomberg]
Topping the possible list of buyers for Morgan Stanley, Mr. Schutz says, are Bank of America and HSBC Holdings [WSJ]

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