CNBC reports that Rochdale Securities analyst Richard Bove has said that Morgan Stanley CEO John Mack, who announced last week that he is stepping down from this role at the end of the year, should also give up his Chairman's job.

Bove told CNBC's 'Squawk Box': 'Once the CEO leaves.........he should leave the company'. Bove also described Morgan Stanley as a 'mess', adding 'you cannot change strategy every couple of years based on any new fad in the market.

Here's some other interesting stuff in the press about Mack going, and co-President James Gorman stepping up to the CEO plate.

'Mack has been beaten up a little for not taking as much risk in the capital markets as Goldman. (But) he was given a tough job , I think he handled it above average and history will judge him a solid leader on Wall Street'.

Matt McCormick, bank analyst, Bahl & Gaynor Inc (Bloomberg)

'I am concerned that the Morgan Stanley board of directors is placing an admittedly capable executive with a largely retail brokerage operating background in charge of a global capital markets firm....It was a similar decision in 1997 that led to the lost decade at Morgan Stanley'.

Brad Hintz, bank analyst, Sanford C. Bernstein (Bloomberg)

'John Mack came back and stabilized the company and brought back the pride. He made the right calls at the right time, in an incredibly stressful situation'.

S. Parker Gilbert, former Morgan Stanley Chairman (The New York Times)

(The appointment of Gorman) is a massive cultural shift for them. The message you send to investment bankers is that now we have more distribution than before. There will be more outlets to sell products'.

Charles Geisst, professor of economics and finance at Manhattan College (Bloomberg)

'Succession has been a top priority for me since my return to Morgan Stanley, and I am confident that James (Gorman) is the right person to lead the firm forward'.

John Mack (The New York Post).

The Post also reports that Morgan Stanley is thought to have considered ex-Merrill CEO John Thain, former Wachovia boss Bob Steele and BlackRock chief Larry Fink for the top job.

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