With Mr. Purcell 's new focus on loyalty -- Mr. Pandit was forced out because he declared his fidelity to Morgan Stanley , not Mr. Purcell -- and the rapid promotion of Stephen S. Crawford and Zoe Cruz to co-presidents , many investment bankers claim that the firm 's spirit of meritocracy is fading .
Zoe Cruz
Morgan Stanley
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Purcell
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Pandit
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Morgan Stanley
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Purcell
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Zoe Cruz