Bit of a mystery. In a season where Morgan Stanley branch and regional bosses are fleeing, the firm just fired one of its more celebrated local managers.
Frank LaRosa is no longer running Morgan's sprawling Philadelphia operation -- a casual search indicates at least 100 advisors -- for reasons as yet unexplained.
LaRosa came up from the Smith Barney side of the company and had only been running the Philadelphia complex since December. Before that, he was a branch manager in New Jersey.
Since he was winning awards only last week, the sudden departure is odd.