Morgan Stanley issued one stock and one equity on Apr.25 on American Stock Exchange, amid the recent crisis on the company's management.
The stock(ticker symbol MST) is Capital-Protected Notes based upon the S&P MidCap 400 Index, with the amount of $8 million, and has a maturation date of October 30, 2010, while the equity(Ticker symbol DJL) is Performance Leveraged Upside Securities linked to the Dow Jones Industrial Average, with the amount of $15.5 million, and matured at April 30, 2007.
Last week, eight senior traders in Morgan Stanley has left for Deustche Bank, which hinted that Philip Purcell may have underestimated the extent to which the brokerage firm's top traders and bankers have remained loyal to their former bosses.
It is common that a company's rival always put the in-crisis company's employee on the radar screen. But it is hard to know what will be the result of the crisis in this white-shoe brokerage. Will Philip Purcell leave at last under the pressure that more and more elite trader and broker are leaving?