Rob Parson at Morgan Stanley

November 15, 2017 Management

Leadship:enhancing the lessons of experience Rob Parson at Morgan Stanley (A) Contents Rob Parson at Morgan Stanley (A)1 Contents2 Provide a background of the case3 Should Rob Parson be promoted? 3 Exhibit 3. 4 Conduct the performance appraisal conversation5 Background Under the leadership of John Mack,Morgan Stanley was transforming itself into a “One-Firm Firm. “They’re very value their employee. They treating each other with dignity and respect. ohn Mack recruit Paul Nasr to join Morgan Stanley who would shape up the culture. As Paul Nasr know,in Morgan Stanley,business is not the only thing they’re care about.

Here the franchise matters,the culture is important,and the firm cares a lot about the integrity of the process. One of the areas where Morgan Stanley had historically been weak was in delivering capital markets services to financial services firms such as banks and insurance companies. To develop a presence in this market Nasr recruited Parson,a young banker who had previously worked for him at a different firm. Parson had a proven track record in financial services and Nasr felt Parson had the type of energetic,entrepreneurial nature that Morgan Stanley needed to penetrate the sector.

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Throughout his ten years of experience Parson had built strong relationship with the important players in the banking and insurance industries. Parson Joined Morgan Stanley as a market coverage professional in the Capital Markets divisin focusing on financial institutions. The position that Parson was hired to fill had a reputation for being notoriously difficult to perform and had seen a tremendous amount of turnover at Morgan Stanley. It was widely known in the industry that clients in the financial services segment were extremely ompetitive and often engaged investment bankers in cut-throat negotiations over how mmuch they were willing to pay in fees. The person filling this role needed some aggressive characteristics. Should Rob Parson be promoted? Yes/No? Support your decision. Yes. Rob Parson should be promoted. The reason as follow:1)Rob Parson had been financial and insurance industries for ten years before he joined Morgan Stanley. He knew how to do business in his sector. “The senior managers in Capital Markets recognized that in order to service this client base effectively,it could not be “business as usual. The financial industry clients moved at a more rapid pace than those in other sectors and were among the most demanding. And clients in his sector wanted answers in a matter of minutes rather than hours. ” 2)People in Morgan Stanley don’t konw how to do business in those areas. “One of the areas where Morgan Stanley had historically been weak was in delivering capital markets services to financial services firms such as banks and insurance companies. ” “The Morgan Stanle way was to build consensus. If he waited for consensus,the business would have been transacted away. 3)Morgan Stanley need Rob Parson’s help To develop a presence in this market. Exhibit 3 Evaluation and Development Summary Form Review of Performance PERFORMANCE SUMMARY, INCLUDING ACCOMPLISHMENTS Consider objectives in prior year’s E&D Summary as well as business objectives set earlier in year. Refer toSelf-Evaluation where applicable. EVALUATION THEMES Strengths Comments Selling Skills 1)Always willing to ask for the order no matter how difficult a situation. 2)Demonstrates more initiative,more receptive to pitching business and to allowing team members access to clients. )Commercial instincts. Avoids problem deals and has accurate pricing views. 4)Cross-selling. Consistently puts key products in front of clients. 5)Aggressive selling skills. Asks for the sale and makes it difficult for clients to say no. 2. Aggressiveness/Initiative/Commitment 1)Rob is a self starter who is unusually aggressive in pursuing the business. 2)Rob is one of the hardest workers in Capital Markets. He seems to take nothing for granted. 3) Rob is responsive to all of my client requests. I asked him to initiate coverage of regions and he was quick to start. )Aggressive approach to underwritten bid business,important for Firm’s overall league table standing. Relationship Management 1) Works well with Regional Office to integrate us and use our strengths to manage and develop clients. 2) Rob also challenges me to be more active. He has introduced me to several clients and he keeps me apprised of all activity. 3)Rob is good with senior client management and knows how to ask the hard questions. 4)Rob is consistently very thorough about identifying and informing all the internal parties associated with a specific client. Development Areas Comments

Team Player Skills. 1)lthough Rob has made progress here in recent months, he still needs to work at integrating his efforts more effectively with the broader team. 2)Rob is one of the senior CMS covering officers he should take most of a leadership role within the group. This could be demonstrated by more of a presence in the morning meetings, leading by example, etc. Perhaps this is a bit tough to define but he could step up his role in the group. 3 Personal Style. 1)Rob exhibits a volatile personality, at times, that causes problems. Needs to resist the temptation to react too quickly to an emerging problem.

Must learn how to treat colleagues with a little more respect. 3. Organization and follow up 1)Rob needs to work on planning, organization of his coverage effort and consistent follow up. We’ve seen that not all clients are forgiving on these issues. PERFORMANCE OBJECTIVES FOR NEXT YEAR: Business Goals (List important business and commercial targets). Rank second within the market. Hold the old business and get new business. Professional Development Goals (list important development suggestions to enhance evaluatee’s professional effectiveness). Be more cooperative and work as a team leader with more team player skills.

CAREER GOALS (Comment on evaluatee’s short-term and long-term career goals as described in the self evaluation): Short-term: build up a team,and hence good team player skills,Long term:get more market share. 4. If you were Paul Nasr,how would you plan to conduct the performance appraisal conversation? What would your goals be? What issues would you raise and why,and how would you raise them? If I were Paul Nasr,I would conduct the performance appraisal conversation like this:1)I will applaud Paul’s achievements which is within Parson’s help Morgan Stanley held the third rank position with a market share of 12. %. 2)I will point out there’re still have some aspects Parson need to be developed. Such as Team Player Skills,Personal Style,Organization and follow up,presentation skills etc. 3)I will draw a conclusion that the reason I recruited Parson join Morgan Stanley because Morgan Stanley’s people don’t know what Parson know which is delivering capital markets services to financial services firms such as banks and insurance companies. 2. My goal will be I need Parson and his team work more closely together and get more market share for the follow year. 3.

I would raise three issues:1)Promoted Rob Parson because his remarkable achievements. “Prior to Parson, the firm had been ranked tenth with a market share of 2%. Parson had been instrumental in securing first- time business with more than ten clients, had secured major deals with existing clients, and was generating substantial revenues for his desk. Now Morgan Stanley held the third rank position with a market share of 12. 2%. ” 2)Point out that Rob Parson’s weakness and ask him work on it. 3)Under Capital Markets division,Set up a department focusing on financial institutions ,appoint Rob Parson’s the director of this department.


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