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Copy of Rob Parson at Morgan Stanley

Case Analysis
by

Mohit Berry

on 5 May 2013

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Transcript of Copy of Rob Parson at Morgan Stanley

The Issue Rob Parson came from an unorthodox background that did not fit Morgan Stanley’s culture
His performance numbers and skills show that he
should be promoted to Managing Director
However, his style completely disregarded Morgan Stanley’s mission statement, as he took any means necessary to improve capital gains
The Players Paul Nasr Rob Parson Colleagues Hired as Principal level by Nasr himself
Performed at high levels at previous firm but Nasr recruited because Morgan Stanley needed help in the Capital Markets division
Personally knew he was different than everyone else based upon his background
Referred to himself as a “hustler”
He felt that he was not Morgan Stanley type because of his lack of prestigious schooling

Comments suggest that Rob is making progress
Although he has adjusted slowly to Morgan Stanley’s culture, he still is not where he needs to be to receive the promotion
“Although Rob has made progress here in recent months, he still needs to work at integrating his efforts more effectively with the broader team”
“Rob is often too honest in his assessments, although he is usually correct” NO Should Rob Parson Be Promoted? "Morgan Stanley’s people are the source of our competitive advantage. We will distinguish ourselves by creating an environment that fosters teamwork and innovation, by developing and utilizing our employees’ abilities to the fullest, and by treating each other with dignity and respect."
Parson defies Morgan Stanley’s mission statement and culture.
Not feasible to promote someone who is a clear contradiction of what Morgan Stanley moralizes.
Lack of Teamwork IBD is unique and requires quick decisions.
Lacks in efficiency because he does not utilize all of his resources.
But cannot make exceptions for one division.
Large corporations need consistency.
Others will complain if Parson is given more leniency.
Not practical to change Morgan Stanley’s culture for one man.
Morgan Stanley is successful because of its integrity, which originates from its through, teamwork based process.
Lack of Respect Coworkers’ Criticism of Parson:
"When in bad mood or temper junior staff analysts and secretaries have been shocked by his language, temper, lack of respect to them and others.
Although extremely effective with clients, Parson has poor interpersonal skills within firm itself."
Parson has a serious problem respecting others, especially those under him.
Managing Directors must respect others and receive a high level of respect from others.
High-level representatives of the company have to be held
at a certain standard.
Assessment of
Rob Parson's Performance ? How should Nasr deal with the situation? Initially promised a promotion…
but Parson is not fit to be managing director
Instead of promotion,
he should offer... 6 month evaluations
Has the performance but not the managing skills
Promotion is within clear reach, however, only if improvements are made
Performance Evaluation CAUTION! Risk of Parson leaving Morgan Stanley
EXPLAIN his
perspective
Respect
Inability to adapt to other organizations
Position is within reach, practically guaranteed
Let Parson know: he is a great asset but does not portray the type of leader Morgan Stanley wants for a managing director
What Nasr Could Have Done
Differently Initial Guidance into Unknown Culture
Straightforwardness and Diplomacy
Criticisms
Peer Evaluations
Downward Colleague Paul Nasr One of the most talented and educated in his field:
Helped bring Morgan Stanley from 10th to
3rd in capital markets--2% to 12.2% market share






Best in the Industry Highly marketable
All of his clients LOVE his personality Passionate individual but emotions sometimes get in the way of his judgement Bypasses divisions and colleagues
Viewed colleagues as barriers instead of assets
Against company policy
Does not foster growth within Morgan Stanely Senior managing director in Capital Market Services
Knew Rob Parson from his previous firm, and vouched for his superior abilities
New to the Moran Stanley culture, but he adapted very quickly
Didn’t feel like he could call Rob out on his behavior
“reluctant to wield a heavy hand”
Trying to be diplomatic
Colleagues Rob Parson Q&A Acted like he had something to prove to compensate for the lack of prestige in his resume
Had an attitude toward co-workers below him including being too with short and cursing Organization and follow up:
Rob often fails to follow up with clients
Rob does not show up to morning meetings with his teams which hurts his leadership presence Agressive in his field
Nasr hired Parson to add some fire to Morgan Stanley
Parson does what needs to be done to win a client and close deals Cross-selling
Has helped expand many of his clients' accounts to other divisions of Morgan Stanley
Full transcript