Rob Parson at Morgan Stanley

Topics: Investment banking, Investment banks Pages: 4 (1034 words) Published: March 6, 2013
Rob Parson at Morgan Stanley (“MS”)

Executive summary
Paul Nasr is a senior managing director (“MD) at MS in the Capital Markets (funding) area. He has 20 yrs of experience and was hired by Mack (the new boss at MS) to lead the Capital Markets (“CM”) area. Capital Markets is the link between Sales & Trading and the Investment Banking Division (“IBD”) and their main function is to raise funds. Sales &Trading area sale the products that Capital markets originate. Investment Banking and CM are interrelated as IBD gets business such as M&A on the back of the funding but CM also has to originate funds on the back of such M&A deals. The cross sell happens both ways. MS had historically been weak in the financial institutions group that makes up 30% of the market. MS was 12th in the league tables and they had a reputation for constantly changing their coverage person. Paul hired Rob Parson to fill in this coverage position. The Financial institution area within capital markets is the most dynamic and aggressive (cut-throat) and the clients are very sophisticated (as they are banks too). Hence the coverage person had to be somebody with a strong drive and endurance. Paul knew Rob from previous job and he thought that although Rob did not fit the MS’s cultural mould he was the right person for that job. Rob Parson (“RP”) has 10 years of experience in the FI sector. He is kind of a rebel and has not the traditional background for an investment banker. He dropped out of school for some time, attended a normal (not “Ivy league”) college and then got an MBA. He started working at a commercial bank in the savings and loan business. This area was booming and he performed very well. He worked at 3 investment banks and then joined MS to work with Nasr. Rob joined MS as a principal in the FI area and did a phenomenal job to improve MS’s franchise. He had very good relationships and market knowledge that he applied to move MS from the 12th to the 3rd position in League tables....
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