Manshoon is the unspoken leader of the Zhentarim, so far as the greater powers are concerned (ie Elminster). However, the face, and true leader of the Zhents is Fzoul, as Manshoon abdicated any position of leadership over to Fzoul. Or so Fzoul believed after he slew Manshoon. After many clones died Manshoon, at the last, stands as the leader of the black network to this day.
Essentially, there has never been one individual leader of the Zhents other than Manshoon, to avid readers. Fzoul is leader of the clergy (Bane and, after the Godswar and the God Bane was killed during a battle with Torm, Cyric), Manshoon the leader of wizards (blackcloaks), as far as readers are concerned (fans of the novels).
However, Realmslore has placed Fzoul as the High Lord of the Zhentarim, with Manshoon effectively having diplomatic immunity and general free reign to do as he will. Both reside in Zhental Keep. Manshoon's immunity to laws or exclusion from the hierarchy is, in large part, due to Manshoon being the founder of the Zhents, historically.
There is a third "leader", oft overlooked, and that is the beholder Xantriph. Xantriph and Manshoon struck a mutually beneficial pact that, effectively, had Xantriph keeping the clergy in line when Manshoon was away. Keeping Xantriph in line (or so he believed), was Manshoons right-hand wizard Sememmon. Sememmon Was as afraid of the beholder as the clergy, as was frequently apparent by his visible sweat whenever he spoke with the beast.
Over much war and conflict the black network rose and fell, and rose again as a mercenary group - again, built by Manshoon. It's current reincarnation is Ruled, explicitly, by Manshoon.
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Essentially, there has never been one individual leader of the Zhents other than Manshoon, to avid readers. Fzoul is leader of the clergy (Bane and, after the Godswar and the God Bane was killed during a battle with Torm, Cyric), Manshoon the leader of wizards (blackcloaks), as far as readers are concerned (fans of the novels).
However, Realmslore has placed Fzoul as the High Lord of the Zhentarim, with Manshoon effectively having diplomatic immunity and general free reign to do as he will. Both reside in Zhental Keep. Manshoon's immunity to laws or exclusion from the hierarchy is, in large part, due to Manshoon being the founder of the Zhents, historically.
There is a third "leader", oft overlooked, and that is the beholder Xantriph. Xantriph and Manshoon struck a mutually beneficial pact that, effectively, had Xantriph keeping the clergy in line when Manshoon was away. Keeping Xantriph in line (or so he believed), was Manshoons right-hand wizard Sememmon. Sememmon Was as afraid of the beholder as the clergy, as was frequently apparent by his visible sweat whenever he spoke with the beast.
Over much war and conflict the black network rose and fell, and rose again as a mercenary group - again, built by Manshoon. It's current reincarnation is Ruled, explicitly, by Manshoon.