Rob Parson At Morgan Stanley

Key Players

Morgan Stanley, a leading U.S. Investment Bank, was attempting to transform it’s 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 (20) 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. That person must be energetic, aggressive and innovative. 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.

Sequence of Events

The position that Paul needed to fill was difficult to perform and had a very high turnover rate. He thought that Rob was the perfect person to fill that billet. Rob accepted the position with the understanding that there was a potential for growth because the effort was in need of repair and that the Morgan Stanley had done very little business in Capital Markets. Paul implicitly promised Rob a promotion to managing director during recruitment. Rob never thought that he would have to tip-toe on egg shells when dealing with co-workers. The new president wanted people who could shake things up and Rob had been successful in bringing Morgan Stanley into this Market. However, it seemed that he has created some animosity among his peers. Morgan Stanley instituted a 360 degree performance evaluation system that allows an employee to be evaluated by superiors, subordinates, and peers. After Rob’s last performance evaluation, it seemed that he might be having trouble adjusting to the Morgan Stanley Culture. The evaluation was negative and indicated that Rob had significant problems working with people inside the firm.

Environment

The internal environment at Morgan Stanley was one of teamwork, employee development, dignity and respect. Morgan Stanley had developed a way of building consensus rather that individualism. They have developed a process of conducting business where everyone is included in the decision making.