Rob Parson at Morgan Stanley

Topics: Management, John J. Mack, 360-degree feedback Pages: 5 (1915 words) Published: June 6, 2013
Morgan Stanley, a leading U.S. Investment Bank, was attempting to transform its work environment to one that fosters teamwork but promotes innovation as well. This vision was developed under the leadership of the new president John Mack and his executive team. President Mack was looking for people to “shake up the culture.” With heavy resistance, he recruited Paul Nasr to be the Senior Managing Director in Capital Market Services. Paul was a highly regarded banker with over twenty years of experience. He knew that one of Morgan Stanley’s weak areas was Capital Market Services, an area where he had been successful in the past. Paul also knew that it would take more than a traditional corporate banker to penetrate this market. The Capital Markets Services(CMS) division, which has established as an interdisciplinary concern to address the issues of focused client attention and cross-divisional collaboration, required professionals who not only had domain specific industry knowledge but were also skilled at responding to client needs by designing products in collaboration with product specialists within Morgan Stanley. Market coverage professional to be compatible with the staff of other departments, but can't rely entirely on product designers, because they do not understand markets and customers, do not know the customer's needs. It is important to fully understand the market, product, and customer information in three areas and needs. That person must be energetic, aggressive and innovative. It was these requirements that led to the appointment of Rob Parson, a managing director at a smaller firm with connections to some of the players in banking and insurance industries, as market coverage professional. That’s why he recruited Rob Parson. Rob developed relationships with the important players in the banking and insurance industries and a strong reputation. Rob is not easily discouraged or intimidated and knows what it takes to get the job done. His drive and ambition allows him to connect with his clients but sometimes distances him from his co-workers. "Difference in a work culture and environment see only what employee know1". Employees weigh what they put into a job situation against what they get from it. Then they compare their input-outcome ratio with the input-outcome ratio of relevant others. Here important management issues associated with performance appraisal and performance management in the Capital Market Services of Morgan Stanley. The nature of Rob Parson’s responsibilities, though challenging, involved resurrecting Morgan Stanley’s capital market business and had witnessed high turnover rate. This position within the CMS division not only requires a conceptual understanding of investment banking procedure, but also mandates an ability to create business persuasion and negotiation, in addition to sensitivity to client objective. Rob Parson, despite his unconventional education, has been acknowledged for his ability to interface with clients and sell products, but at the cost of the company culture and the vision of its senior management of an environment that promotes teamwork and emphasis respect and dignity of its employees. Parson's success at generating business was offset by performance reviews from internal co-workers that painted him as a poor fit in the firm's collaborative culture. Parson's performance issues had been making his two immediate supervisors, Paul Nasr, the senior managing director in early 1996 and Gary Stuart, the just promoted managing director in early 1997 faced the dilemma whether to promote Rob Parson as managing director. Moreover, Stuart felt certain that Parson would leave the firm if he was not promoted. This would mean losing a valuable employee and a star producer and creating an empty seat in an area important for the firm's business. Morgan Stanley needed Parson to attain the firm's strategic business objectives and even Stuart felt strongly that Parson would be...
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