Street.Com – Zoe Cruz, the Morgan Stanley co-president pushed out by the firm late last year, is eyeing a role at an asset management firm, or possibly raising money to start a hedge fund, according to a person familiar with her thinking.

Cruz would prefer to join an existing business, as she enjoyed being a high-level manager at a large prestigious firm, the person says.

The Greek native was seen as a possible successor to CEO John Mack after spending her entire 25-year career at Morgan Stanley, starting as a foreign exchange trader, until her exile last year. She was shown the door following heavy losses in Morgan Stanley’s fixed income division, which she oversaw.

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