Pension funds launch further assault on Morgan Stanley

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US - The American Federation of State, County and Municipal Employees (AFSCME) Pension Plan has tabled a proposal for the Morgan Stanley's (MS) annual meeting, demanding that directors should receive a majority vote from shareholders.

The news follows hot on the heels of media speculation which puts the bank’s former president, John Mack in poll position to replace Purcell as chairman and CEO. “The current board is a creatu...

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