Rob Parson at Morgan Stanley Essay Sample
Paul Nasr is a senior pull offing manager ( “MD ) at MS in the Capital Markets ( funding ) country. He has 20 year of experience and was hired by Mack ( the new foreman at MS ) to take the Capital Markets ( “CM” ) country. Capital Markets is the nexus between Gross saless & A ; Trading and the Investment Banking Division ( “IBD” ) and their chief map is to raise financess. Gross saless & A ; Trading country sale the merchandises that Capital markets originate. Investing Banking and CM are interrelated as IBD gets concern such as M & A ; A on the dorsum of the support but CM besides has to arise financess on the dorsum of such M & A ; A trades. The cross sell happens both ways. MS had historically been weak in the fiscal establishments group that makes up 30 % of the market. MS was 12th in the conference tabular arraies and they had a repute for invariably altering their coverage individual. Paul hired Rob Parson to make full in this coverage place. The Financial establishment country within capital markets is the most dynamic and aggressive ( cut-throat ) and the clients are really sophisticated ( as they are Bankss excessively ) . Hence the coverage individual had to be person with a strong thrust and endurance. Paul knew Rob from old occupation and he thought that although Rob did non suit the MS’s cultural mold he was the right individual for that occupation. Rob Parson ( “RP” ) has 10 old ages of experience in the FI sector.
He is sort of a Rebel and has non the traditional background for an investing banker. He dropped out of school for some clip. attended a normal ( non “Ivy league” ) college and so got an MBA. He started working at a commercial bank in the nest eggs and loan concern. This country was dining and he performed really good. He worked at 3 investing Bankss and so joined MS to work with Nasr. Rob joined MS as a principal in the FI country and did a phenomenal occupation to better MS’s franchise. He had really good relationships and market cognition that he applied to travel MS from the 12th to the 3rd place in League tabular arraies. He was besides really proactive in cross merchandising with other countries. Notwithstanding his great public presentation he had trouble integration in the MS civilization. would non prosecute other and non mentor co-workers to convey them up the ladder. He was a self-starter but besides rather an individualist. This raised struggle with his co-workers. Paul has to reexamine him and make up one’s mind if he puts him up for publicity as a MD. Reappraisals are done via a 360 public presentation rating that is people above. at the same degree and below demand to measure a individual.
Does Rob Parson merit his publicity now? Why?
RP should NOT be promoted to an MD unless he had been expressly told ( written or verbally ) that this was the understanding. In RP’s instance there was an inexplicit agreement/tacit apprehension that if he did a good occupation he would be on the fast path to go a MD. He has performed highly good nevertheless publicities at higher degrees such as MD do non entirely depend on 1 year’s public presentation. They are on the dorsum of consistent production and they are besides comparative to the firm’s public presentation. In add-on. a MD has to be in sintony with the corporate civilization as he will be stand foring MS at the highest degree. By advancing him it will direct a message that the person has precedence to the company and therefore undermines the unity of the house. It would represent a challenge to the corporate civilization. And this was one of Mack’s most of import messages: Corporate behavior is more of import the person.
Why is MS prosecuting in this competence appraisal?
Mack as the new caput of MS wanted to implement a alteration of civilization to accommodate MS to the current fast changing times. He emphasized the “one firm” vision to advance a incorporate and co-ordinated attack to their clients. The 360 appraisal is portion of his new manner of making concern. Mack wanted the employees to concentrate on three chief points: Teamwork. Cooperation and Cross-selling. The assessment serves two intents. the first is to specify a new civilization and the 2nd to happen people’s failings. For this ground the reappraisal is done by higher-ups. co-workers and subsidiaries to give a comprehensive exposure study on the reviewed employee. Given the assortment of people one employee is exposed to ( Gross saless people. bargainers. investing bankers… ) the individual does non cognize who will make the reappraisal and give feedback on his public presentation. Hence the employees need to believe foremost and foremost of the house and how they can make better and work with the different people. Investment Bankss such as Morgan Stanley and particularly Goldman Sachs have a really strong corporate civilization and they would non give their corporate behavior for an single despite his leading public presentation. They want their employees to travel towards the top right portion of the enclosed matrix.
Investing Bankss continuously do these reappraisals to find the top 10 % to advance them and the bottom 10 % to replace them. Hence they guarantee they have the “best” people
Can Rob Parson alteration?
Rob is a extremely intelligent. really knowing. really goaded and really ambitious individual. He acknowledges that he has jobs with his co-workers but he is non able to nail what these are. He knows he has defects in his relationships with his co-workers and knows he is different to the traditional MS employee. But he believes that the most of import issue is to shut trades and does non take attention of the “how” you do this. RP may desire to alter but he does non cognize how to make this. RP can alter but he will necessitate the aid of Paul. Paul hired him cognizing that he did non suit the MS mold and now he is responsible for allowing RP cognize what his failings are and how he has to turn to them. Paul has to put in him and train him to travel him closer to the MS corporate civilization.