Morgan Stanley Fires Highly Regarded Philadelphia Boss

Friday, May 20, 2011 06:26
Morgan Stanley Fires Highly Regarded Philadelphia Boss

Tags: Morgan Stanley

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.

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Frank LaRosa is no longer running Morgan's sprawling Philadelphia operation -- a casual search indicates at least 100 advisors -- for reasons as yet unexplained.


Neither Morgan nor LaRosa is talking about it. But since LaRosa is now apparently actively looking for a new position, the move doesn't seem voluntary.


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.


Either way, with complex managers and regional chiefs heading for the exits, there are plenty of battlefield promotion opportunities out there at Morgan Stanley these days.



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