Blue Blood and Mutiny: The Fight for the Soul of Morgan Stanley is a non-fiction book by American journalist and historian Patricia Beard.
[1] The books focuses on the history of investment bank Morgan Stanley and on how a powerful fight within the firm was orchestrated by a group of eight retired executives, led to the removal of its then CEO, Philip J. Purcell.
The group carefully worked behind the scenes to publicise Purcell as a Midwestern rustic lacking sophistication and understanding of elite financial markets.
From 1997 through 2005, Mr. Purcell, the aloof Midwesterner who had run Dean Witter, the retail brokerage, sat atop Morgan Stanley, the bluest of the blue-blood firms.
Beard's book is full of meticulous, inside detail — at one point, after the dismissal of two top bankers (in what came to be known as the Monday Massacre) she recounts how Tarek Abdel-Meguid, another senior banker, flew back from vacation, arriving at the office still in an aqua T-shirt and Topsiders.