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Clearview Partners Rises from the Ashes of Morgan Stanley Shakeup

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The fallen children of last year’s Morgan Stanley shake-up aren’t going quietly into the night. Stephen Crawford, who was co-president of Morgan Stanley for three months in 2005 until a shareholder revolt and investment banker defections to rival firms forced out his ally Philip Purcell, has joined forces with Robert Pruzan and Blair Effron to form a boutique investment bank they are calling Centerview Partners.
Pruzan is a veteran of Wasserstein Perella & Co, which was acquired by a German bank and became Dresdner Kleinwort Wasserstein. Pruzan was the top guy at DKW in North America, which Wasserstein himself left to head up Lazard. Recently, DK dropped the Wasserstein name altogether, becoming just Dresdner Kleinwort.
Blair Effron has been at UBS for 19 years. Most recently he was a vice chairman of UBS' investment bank and ran the Swiss bank’s consumer products and retail investment banking practice.
M.Stanley, UBS, Dresdner ex-execs start new firm [Reuters]



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