Profile about former CEO John Mack of Morgan Stanley who was in charge between 2005-2009.

This video was on February 11, 2009 from From Capitol Hill: Morgan Stanley CEO John Mack of Morgan Stanley Addresses House Financial Services Committee (Market Pulse), after receiving $10 billion TARP money from federal government. Refer to the url as his biography and some information regarding him shows up on screen.

http://www.youtube.com/watch?v=sbv0FYEjAYY

According to the Morgan Stanley official website's Corporate Governance Board of Directors as of January 1, 2011, John J. Mack's biography consists of : Mr. Mack has been executive Chairman of the Board of Morgan Stanley since June 2005. He was Chief Executive Officer of Morgan Stanley from June 2005 to December 2009. He previously had spent nearly 30 years at the Firm in various positions, including as President, Chief Operating Officer and a Director. Before rejoining Morgan Stanley, Mr. Mack served as co-Chief Executive Officer of Credit Suisse Group and Chief Executive Officer of Credit Suisse First Boston. Mr. Mack is a graduate of Duke University, where he is a member of the Board of Trustees. He also serves as Chairman of the Board of Trustees of New York-Presbyterian Hospital and the University Hospital of both Columbia and Cornell, a board member of the Bloomberg Family Foundation, a Director of IMG, and a member of the Business Council and the Business Roundtable. Mr. Mack is also on the advisory board for China Investment Corporation, the International Business Leaders Advisory Council for the Mayor of Beijing, the International Advisory Panel of The Monetary Authority of Singapore and the Executive Committee of the Partnership for New York City. Additionally, he is a member of the International Business Council of the World Economic Forum, the NYC Financial Services Advisory Committee and the Shanghai International Financial Advisory Council.(1)
According to the World Economic Forum, John Mack's biography consists of his positions past and present are Graduate, Duke University. Formerly: Co-Chief Executive Officer, Credit Suisse Group; Chief Executive Officer, Credit Suisse First Boston. Over 30 years with Morgan Stanley including: President, Chief Operating Officer and Member of the Board; 2005-09, Chief Executive Officer. Member of the Board of Trustees, Duke University. Chairman of the Board of Trustees: New York-Presbyterian Hospital, the university hospital of Columbia and Cornell. Member, Advisory Council, Mayor of Beijing.(2)
According to Morgan Stanley's press release on June 30th, 2005, John Mack has been announced as new CEO and Chairman of the Board, effective immediately.
Miles Marsh, who at the time the lead director of the board said, "John has nearly thirty years at Morgan Stanley working with its people and culture. He knows the business. He knows what we must do to meet the challenges transforming the global financial services industry. He also brings to Morgan Stanley close relationships with clients worldwide as well as the trust and respect of employees, investors, and industry leaders," and he also mentioned "The Board has agreed unanimously that John Mack is uniquely qualified to become Morgan Stanley's new Chairman and Chief Executive Officer. He has the singular combination of experience, strategic insight and leadership ability needed to bring together the people of Morgan Stanley and improve profitability across the Firm. Throughout his career, John Mack has forged cohesive teams that deliver substantial results for shareholders." Also in that press release it introduces the background information about John Mack, "Mr. Mack is returning to a firm at which he spent nearly 30 years, most recently as President, Chief Operating Officer and a Director. He had joined Pequot Capital Management as Chairman earlier this year and served before that as Co-Chief Executive Officer of Credit Suisse Group and Chief Executive Officer of Credit Suisse First Boston. Mr. Mack is a graduate of Duke University, where he is a member of the Board of Trustees. He also serves as Chairman of the Board of Trustees of New York-Presbyterian Hospital, the University Hospital of both Columbia and Cornell, as a Trustee of the Doris Duke Charitable Foundation, and as a Director of Cousins Properties Incorporated." (3)

Now lets get down to the dirty business :
According to equilar.com, John Mack has total accumulated wealth of $53,705,904. Equity holding of $43,599,716, Pension balance of $4,067,424, Deferred comp. balance of $6,038,624. His 2008 annual comp. was $1,235,097. Base salary of $800,000 and other $435,097.(4)

This is youtube video URL when John Mack announced to step down as CEO of Morgan Stanley. However, Mr. Mack will stay as active chairman of Morgan Stanley.

http://www.youtube.com/watch?v=ERbpUXeTv3U

According to Forbes magazine's July 26, 2006 article, "SEC Wants Mack," John Mack is accused of tipping off Pequot Capital which he used to work for about a 2001 merger deal. Before this accusation there was another attempt to John Mack and Pequot Capital's inside trading rumor and former SEC investigator Gary Aguirre tried to build up case against John Mack and Pequot, however, as Mr. Aguirre puts it John Mack was well-connected, thus before things get ready the senior SEC officials blocked the interview and investigation about John Mack, and Aguirre got fired from the SEC investagor position. According to Aguirre's Senate Judiciary Hearing June of 2006 testimony, John Mack tipped of his friend and Pequot chief Art Samberg to a July 2001 merger deal between GE Capital and Heller Financial which made $18 million out of it. GE has been advised by Morgan Stanley in that $5 billion deal and Heller was advised by Credit Suisse First Boston and Lehman. Mr. Mack has been president and COO of Morgan Stanley that year, but quit in March, and became CEO of Credit Suisse in July of that same year. Mack left Credit Suisse in June 2004 and worked for a couple of weeks as chairman of Pequot Capital in June 2005. But at the end of that month, he was hired by Morgan Stanley to take over. The accusations on the article from Forbes magazine didn't conclude any decision or verdict regarding the accusations.(5)

Lastly, this is John Mack's view on possibly the new financial system overhaul.

http://www.youtube.com/watch?v=hJ7kK9Q3cn4


URLs to the links of sources :
1. http://www.morganstanley.com/company/governance/board.html
2. http://www.weforum.org/s?s=john+mack
3. http://www.morganstanley.com/about/press/articles/3685.html
4. http://www.equilar.com/CEO_Compensation/Morgan_Stanley_John_J._Mack.php
5. http://www.forbes.com/2006/07/21/mack-ubs-sec-fund-cx_lm_0721mack.html