Zoe Cruz

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Morgan Stanley CEO Feels Heat

After 'embarassing' quarter, Mack could lose his swagger— and his job

(Newser) - When John Mack became Morgan Stanley’s CEO in 2005, he told the company to take more risks. “You’ve lost your swagger,” he told his traders. Now, after several questionable moves and yesterday's staggering $9.4 billion writedown, swagger isn’t looking so hot—and Mack could... More »

Morgan Stanley Dumps Cruz Over Subprime

One of Wall Street's most powerful women is latest casualty

(Newser) - Morgan Stanley co-president Zoe Cruz has joined the ranks of subprime casualties, after the broker suffered $3.7 billion in mortgage-related losses in the first two months of the fourth quarter. Insiders said her leadership style and her 2005 backing of unpopular CEO Philip Purcell, who eventually was ousted, also... More »

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