3. Break-Up Day
To me the shareholder is getting cheated. The bank is trading at half of book. They should consider spinning off some of the businesses that you know would sell for 1.5, 2.5, 3 times book.
—Phil Purcell, the former CEO of Morgan Stanley, tells big banks to spin off some businesses.
Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio