Morgan Stanley's Mack Attack

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Ahead of tomorrow's expected Morgan Stanley earnings announcement, Bloomberg has a long profile of CEO John Mack's career and recent changes he’s made at the firm. Among the things we didn’t know until we read the article, Morgan Stanley hired almost twice as many managing directors and executive directors in the first half of 2006 as it did in the first half of 2005. Among the things we did: everything there is to know about those 1,000 under-performing brokers he let go. It's still hard to pass through Murray Hill without hearing someone muttering about being let go from Morgan Stanley.

Mack's Talent Rebound at Morgan Stanley Fails to Propel Shares
[Bloomberg]

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