Copper Arch Capital is so unhappy with the performance of Morgan Stanley's stock that the New York-based hedge fund is calling for an organizational restructuring for the investment bank.
"Morgan Stanley's current ills are not temporal or cyclical in nature. The problems are structural and they need to be addressed promptly lest the franchise value begin to erode permanently," Copper Arch chairman Scott Sipprelle wrote in a letter to Morgan Stanley's board, which he released publicly this week.
Even before his hedge fund days Sipprelle closely followed the investment bank's stock. Sipprelle was a former head of Morgan Stanley's