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Morgan Stanley's Purcell To Step Down as CEO





He is finally gone ... earlier than I thought.

From Wall Street Journal:

Morgan Stanley Chief Executive Philip J. Purcell agreed to retire after a lengthy battle this spring weakened the leader's hold on the Wall Street firm.

"It has become clear that in light of the continuing personal attacks on me, and the unprecedented level of negative attention our Firm -- and each of you -- has had to endure, that this is the best thing I can do for you, our clients and our shareholders," Mr. Purcell said in a statement announcing his intention to retire by next March.

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