Morgan Stanley Wall Street legend dies


Sad to report.

S. Parker Gilbert, who led Morgan Stanley when it went public in 1986 and, in retirement, steered the 2005 uprising that pressured Chief Executive Officer Philip Purcell to step down, has died. He was 81.

Bloomberg News reports that he died on May 27 at New York Presbyterian/Weill Cornell Medical Center in Manhattan following a long illness, his son, David Gilbert, said in a telephone interview.

During Gilbert’s tenure as chairman, from 1984 to 1990, Morgan Stanley’s equity rose almost 10-fold, to $2bn, and its workforce increased to 6,800 employees from 2,600,according to the firm. Its parent, Morgan Stanley Group, issued shares in an initial public offering in March 1986, and the stock price soared 26% on its first trading day.

In 2005, as an advisory director, Gilbert joined seven other former Morgan Stanley executives, including former firm President Robert G. Scott, in starting a coup that deposed Purcell as chairman and CEO. 

To access the complete Bloomberg News article hit the link below:

S. Parker Gilbert, Who Took Morgan Stanley Public, Dies at 81

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