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Article: Suddenly, Looking Seriously Like Merger Bait.(Philip Purcell, chief executive officer, Morgan Stanley)(Brief Article)
- Article from:
- U.S. News & World Report
- Article date:
- April 25, 2005
- Author:
CopyrightCOPYRIGHT 2005 All rights reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Getting hitched is easy; making a merger work is a whole lot tougher. Just ask Philip Purcell. The embattled chief executive of Morgan Stanley is in the midst of an embarrassing coup attempt. Eight former executives are publicly trying to unseat him as head of the financial services giant he helped create in 1997 when his old firm, Dean Witter, Discover, merged with Morgan Stanley. Purcell took more heat last week after Morgan Stanley's two top investment bankers quit. The infighting has left the firm hobbled in the minds of many investors, and some on Wall Street are wondering if the company is ripe for plucking by a ...
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