Governance Problems at Morgan Stanley
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Case Details: |
Price: |
| Case Code |
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CGOV004 |
For delivery
in electronic format: Rs. 400;
For delivery through courier (within India): Rs. 400 + Shipping & Handling Charges extraThemes
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| Case Length |
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20 Pages |
| Period |
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1998 - 2005 |
| Pub Date |
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2005 |
| Teaching Note |
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Not Available |
| Organization |
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Morgan Stanley |
| Industry |
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Investment
Banking |
| Countries
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US |
Abstract:
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The case discusses the rise and fall of Phil Purcell in Morgan Stanley, one of
the largest investment banking companies in the US. It examines how Purcell
assumed the role of CEO of the company after the merger of Morgan Stanley with
Dean Witter and went on to fill the company's governing board with his
loyalists. Purcell was severely criticized for the way he handled people in
Morgan Stanley which led to the exodus of talented employees.
During his tenure as the CEO, Morgan Stanley got involved into several legal
problems. The poor governance under Purcell's regime had an adverse affect on
Morgan Stanley's stock, which slipped by 39% between 2000 and 2005.
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A group of former Morgan Stanley executives
started campaigning against Purcell and succeeded in ousting him
from the company. After Purcell left, ex-president John Mack
came back to Morgan Stanley. It remains to be seen how Mack
would improve the culture and the morale of the company's
employees and improve its financial performance.
Issues:
» Examine the corporate governance practices at Morgan Stanley under Purcell
» Problems faced by Morgan Stanley under Purcell
» Reasons that led to the ouster of Purcell
Contents:
Keywords:
Morgan Stanley, Corporate governance, Leadership, Governing
Board, 'Group of Eight', Organization Culture, Legal Problems, Perelman, Whistle
Blowing
Return of John Mack
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