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Wednesday April 13, 07:49
Pension funds’ concern over Morgan Stanley grows
(by Olivia Cohen)

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Pension funds’ concern over Morgan Stanley grows The Council of Institutional Investors decided to open a dialogue with Morgan Stanley amid the fierce criticism the company faced recently.

Elliot Schwartz, the council’s director of research, said the decision was made through an informal vote at the annual meeting of the council.

The council members said they agreed to arrange a call with Morgan Stanley’s Chief Executive Philip Purcell and eight dissident executives that are trying to make Purcell step down.

Eight dissident executives has already submitted three letters where they poised questions to the board directors, raising the problem of Purcell’s possible link to the recent ouster of the company’s senior executives.

The move may have crucial effects on Purcell, some analysts say. The New York State Common Retirement Fund’s Alan G. Hevesi declined to comment on his view of the problem.
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Read the related news and articles:
20 May 2005 09:58 AM Morgan has to pay Perelman $1.45 billion
20 May 2005 05:38 AM MORGAN STANLEY RAISED CLARIANT TO "EQUAL-WEIGHT"
19 May 2005 10:47 AM Morgan Stanley’s ads will be pulled out from media with negative publications
18 May 2005 09:00 AM MORGAN STANLEY RAISED ELECTROLUX TO "EQUAL-WEIGHT" FROM "UNDERWEIGHT"
17 May 2005 07:49 AM Morgan Stanley ordered to pay out $604 mln to Perelman
 


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