The John Mack era at Morgan Stanley has started with the resignation of one of the firm’s co-presidents.

Stephen Crawford has resigned as co-president and will leave the company to pursue other interests. Zoe Cruz has been named acting president.

Crawford and Cruz were named co-presidents and directors by outgoing Morgan Stanley chairman and CEO, Phillip Purcell, in March of this year. Their promotions precipitated several high-profile departures from the firm. But they both stepped down from the board when Mack was tapped as Purcell’s successor, after a highly public battle waged by some Morgan Stanley shareholders to oust Purcell.

Crawford joined Morgan Stanley in 1986 in corporate finance, and he has also since served as chief financial officer and chief administrative and risk officer.

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