Maybe. The former Morgan Stanley co-president, who was unceremoniously ousted this spring by her mentor, president and CEO John Mack, might be getting back in the ring. Dan Freed on the Street says Zoe Cruz 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." Interesting. John Mack and Cruz's ex–Morgan Stanley nemesis Vikram Pandit, now CEO of the weakened Citigroup, should probably watch their backs, because if Cruz's thinking is anything like it used to be — "We understand that she is very fierce and enjoys shredding inflated reputations into small packets of confetti,” one source told New York last spring — then chances are, the Cruz missile is going to be pointed right at them.

UPDATE: Mack is clearly already feeling the heat.

Cruz Eyes Return After Morgan Ouster [Street]
Related: Only the Men Survive [NYM]