Philip J. Purcell
| Philip J. Purcell | |
|---|---|
| Born | 1943 (age 73–74) Salt Lake City, Utah, USA |
| Nationality | American |
| Alma mater |
University of Notre Dame University of Chicago (Booth School of Business) London School of Economics |
| Occupation | Investor |
| Known for | Former Chairman and CEO of Morgan Stanley Former Chairman and CEO of Dean Witter |
| Spouse(s) | Anne McNamara |
| Children | seven sons |
Philip J. Purcell (born 1943) is the former Chairman and CEO of Morgan Stanley in the late 1990s and 2000s. He previously served as Chairman and CEO of Dean Witter, Discover and managed the firm under its ownership by Sears, Roebuck & Co. He now serves as the head of Continental Investors, a private equity firm that invests in Internet-enabled financial services and consumer companies.
Phil Purcell was born and raised in Salt Lake City, Utah, where he graduated from Judge Memorial, a Catholic parochial high school. During the school year, he worked selling magazine subscriptions and pressing clothes at a drycleaner; during summers he worked road construction and at the national parks in southern Utah. He was a center on the basketball team and starting tackle on the state championship football team.
Purcell won a scholarship to the College of the Holy Cross in Worcester, Massachusetts, then transferred to Notre Dame in South Bend, Indiana after his freshman year. He won fellowships to the University of Chicago's Booth School of Business, then to the London School of Economics, paying his own way through graduate school with the fellowships and his own earnings and savings. In October 2006, Purcell contributed $12.5 million for the renovation of Notre Dame basketball arena, which was renamed Purcell Pavilion" in his honor.
Philip J. Purcell has been a significant figure in the financial services industry for over 30 years. He was the main architect of Dean Witter’s acquisition of Morgan Stanley in 1997, and was Chairman and CEO of the merged firm (known as Morgan Stanley) from 1997-2005. During that period, the market cap of Morgan Stanley increased from $23 billion to $64 billion. He previously served as Chairman and CEO of Dean Witter, Discover & Co., from 1986 to 1997. After leaving Morgan Stanley, Purcell formed Continental Investors LLC, a private equity firm.
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