Pushing Purcell

Morgan Stanley boss Philip Purcell is no pushover. In recent weeks he has withstood a barrage of criticism from shareholders, been piled on by former Morgan Stanley partners and now has had to see off rising dissent within his own management ranks. The investors, current and former executives are bound by a single cause – the investment bank’s poor stock market performance under Purcell’s stewardship. Yet rather than meet his critics with meaningful redress, Purcell has chosen to dig his heels ...