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

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

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.