A Strategist Who Struggled as a Manager
Morgan Stanley chief executive Philip J Purcell's inability to manage firm well is bringing Purcell's career at Morgan to ignominous close; Purcell, in letter to employees announcing his retirement, says continuing personal attacks, which caused distraction at firm, led to his decision to retire; Purcell will step down as soon as board choose successor, but no later than 2006 annual meeting; chart; photo (Market Place column) (M)

