Ex-Pequot Chairman Mack To Retire From Morgan Stanley

Jun 27 2011 | 3:00am ET

John Mack, the former Morgan Stanley CEO who spent part of his exile from that firm at Pequot Capital Management, will step down as the investment bank’s chairman by the end of the year.

An announcement could come this summer, the Fox Business Network reports.

Mack stepped down as CEO of Morgan Stanley last year, handing the reins to James Gorman, his hand-picked successor. While some at the firm are likely to push for Mack to stay on, that is unlikely, Fox reports, though he could stay on in an advisory capacity.

Mack first left Morgan Stanley in 2001, four years after orchestrating the merger of the firm with Dean Witter; his departure came after a power struggle with Dean Witter’s Phil Purcell, who took over as CEO of the combined firm. After a stint as CEO of Credit Suisse First Boston, he joined Pequot as chairman.

Mack’s tenure at Pequot was not untroubled; he became part of the focus of a congressional probe of a Securities and Exchange Commission insider-trading investigation of the hedge fund. A former lawyer at the regulator claimed he was fired for pushing too hard to interview Mack.

Pequot founder Arthur Samberg pulled the plug on the firm in 2009 in the wake of a renewed insider-trading probe.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.