Morgan Stanley: Purcell’s purge

There are two ways to view the investment banking industry. Traditionally, it has been seen as a fragile collection of talented individuals who go up and down in an elevator every day – and could walk out the door at any time. Then there’s the Phil Purcell way to look at the industry. With the departure of Joseph Perella and Tarek Meguid, Morgan Stanley’s top two investment bankers, Purcell may have the freest rein yet to implement his vision of the perfect Wall Street firm. Purcell’s Morgan St...