Something's going on in Philadelphia. After the second big departure from that region in a row, Morgan Stanley is chopping it up and giving the pieces to neighboring managers.
Now Stephen Dimodica, who ran the larger Philadelphia region -- Pennsylvania down through southern New Jersey and Delaware -- is leaving the firm.
Rather than replace him, Morgan has split up the region and assigned its reps to the New Jersey, Great Lakes, and Mid-Atlantic regional directors.
Both LaRosa and Dimodica were Smith Barney veterans who came into Morgan Stanley via the merger of the two firms.
While it's vastly unscientific, a scan of Morgan's broker lookup database for Philadelphia revealed 100 names right after LaRosa was pushed out. Now there's just 92 names on the list.