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9 Resign at Morgan Stanley to Take Jobs at Wachovia





The turmoil at Morgan Stanley continues ...

From New York Times:

The executives - three managing directors and six others - put together, marketed and traded equity derivative products, which are investments whose underlying value is tied to stocks. That area is one of the faster-growing and more profitable on Wall Street.

The departures underscore the extent to which the management changes imposed by Philip J. Purcell, Morgan Stanley's chief executive, continue to roil the firm's equities unit, which before the challenge to Mr. Purcell's leadership was widely considered to be among Wall Street's best.

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