Spotlight On... John Mack, former chief executive, Morgan Stanley

Mack the Knife?

That's the man, and five'll getya ten old Macky's back in town. Two years after stepping down from the day-to-day runningof Morgan Stanley, and three months after retiring as its chairman, he has a new Wall Street role as an adviser to the private equity behemoth KKR, or Kohlberg Kravis Roberts.

What's he going to do for the barbarians?

The barbarians? Oh, yes, the "Barbarians at the Gate", as Kohlberg Kravis Roberts became known in the Eighties when they pioneered leveraged buyouts. Mack is going to join the ranks of corporate grandees – including the former Caterpillar boss James Owens and Bertelsmann's old co-chairman Richard Sarnoff – who give Kohlberg Kravis Roberts the benefit of their wisdom on potential investments.

Will he fit in?

No doubt. If there is one thing private equity owners are known for, it is cutting costs at the companies they acquire, and Mack became known as "the Knife" for his cost-slashing as head of bond trading at Morgan Stanley and again when he briefly ran Credit Suisse First Boston a decade ago, where he cut 10,000 jobs. Such teeth, dear.

I'd forgotten about his stint at CSFB

He was forced out of Morgan Stanley in 2001, after feeling that the chief executive Philip Purcell reneged on a deal to let him take the top job. But when the Purcell regime collapsed into infighting, Mack was brought back to a rapturous, trading floor reception.

And what a face

He was once memorably described as "physically resembling a crumpled, half-burned baked potato with a pair of overturned furry horseshoes for eyebrows". At 67, he does look beaten up, but then he did steer Morgan Stanley through the credit crisis.

Start your day with The Independent, sign up for daily news emails
PROMOTED VIDEO
ebooks
ebooksA year of political gossip, levity and intrigue from the sharpest pen in Westminster
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs People

Recruitment Genius: Multiple Apprentices Required

£6240 per annum: Recruitment Genius: Apprentices are required to join a privat...

Sauce Recruitment: HR Manager

£40000 per annum: Sauce Recruitment: This is an exciting opportunity for a HR...

Ashdown Group: Interim HR Manager - 3 Month FTC - Henley-on-Thames

£35000 - £40000 per annum: Ashdown Group: A well-established organisation oper...

Recruitment Genius: HR Advisor

£25000 - £30000 per annum: Recruitment Genius: Our Client has been the leader ...

Day In a Page

Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign

What the six wise men told Tony Blair

Months before the invasion of Iraq in 2003, experts sought to warn the PM about his plans. Here, four of them recall that day
25 years of The Independent on Sunday: The stories, the writers and the changes over the last quarter of a century

25 years of The Independent on Sunday

The stories, the writers and the changes over the last quarter of a century
Homeless Veterans appeal: 'Really caring is a dangerous emotion in this kind of work'

Homeless Veterans appeal

As head of The Soldiers' Charity, Martin Rutledge has to temper compassion with realism. He tells Chris Green how his Army career prepared him
Wu-Tang Clan and The Sexual Objects offer fans a chance to own the only copies of their latest albums

Smash hit go under the hammer

It's nice to pick up a new record once in a while, but the purchasers of two latest releases can go a step further - by buying the only copy
Geeks who rocked the world: Documentary looks back at origins of the computer-games industry

The geeks who rocked the world

A new documentary looks back at origins of the computer-games industry
Belle & Sebastian interview: Stuart Murdoch reveals how the band is taking a new direction

Belle & Sebastian is taking a new direction

Twenty years ago, Belle & Sebastian was a fey indie band from Glasgow. It still is – except today, as prime mover Stuart Murdoch admits, it has a global cult following, from Hollywood to South Korea
America: Land of the free, home of the political dynasty

America: Land of the free, home of the political dynasty

These days in the US things are pretty much stuck where they are, both in politics and society at large, says Rupert Cornwell
A graphic history of US civil rights – in comic book form

A graphic history of US civil rights – in comic book form

A veteran of the Fifties campaigns is inspiring a new generation of activists
Winston Churchill: the enigma of a British hero

Winston Churchill: the enigma of a British hero

A C Benson called him 'a horrid little fellow', George Orwell would have shot him, but what a giant he seems now, says DJ Taylor
Growing mussels: Precious freshwater shellfish are thriving in a unique green project

Growing mussels

Precious freshwater shellfish are thriving in a unique green project
Diana Krall: The jazz singer on being friends with Elton John, outer space and skiing in Dubai

Diana Krall interview

The jazz singer on being friends with Elton John, outer space and skiing in Dubai
Pinstriped for action: A glimpse of what the very rich man will be wearing this winter

Pinstriped for action

A glimpse of what the very rich man will be wearing this winter
Russell T Davies & Ben Cook: 'Our friendship flourished online. You can share some very revelatory moments at four in the morning…'

Russell T Davies & Ben Cook: How we met

'Our friendship flourished online. You can share some very revelatory moments at four in the morning…'
Bill Granger recipes: Our chef serves up his favourite Japanese dishes

Bill Granger's Japanese recipes

Stock up on mirin, soy and miso and you have the makings of everyday Japanese cuisine
Michael Calvin: How we need more Eric Cantonas to knock some sense into us

Michael Calvin's Last Word

How we need more Eric Cantonas to knock some sense into us