Case Study: Rob Parson at Morgan Stanley

In: Business and Management

Submitted By strahilco
Words 1351
Pages 6
Introduction Morgan Staley was founded in 1935, by Henry S. Morgan and Harold Stanley. Today Morgan Stanley is one of the world's top financial services companies and a leader in investment banking, private wealth management, bonds and stock trading. In 1993 a new president was named in Morgan Stanly, John Mack. He had a vision of transforming Morgan Stanly into a “One-FirmFirm”. From this vision came out the firm’s mission statement, Our goal is to be the world’s best investment bank and the Firm of choice for our clients, our people, our shareholders. Another important innovation in Morgan Stanly brought by John Mack was the 360-degree performance evaluation process. He wanted to create a team of people inside the Firm who would “Shake up the culture”. One of his most important recruits was Paul Nasr, very highly regarded baker, with more than 20 years of experience. He was placed to be senior manager to a newly created Capital Market Services department. Nasr has already experience with this kind of services, and Morgan Stanley was lacking behind other similar competitor banks. After acquiring the job, John Mack started creating his team for increasing the market share of Stanley Morgan which obviously was a major goal for the firm. To achieve that goal, he needed energetic, aggressive and employees who are not afraid to pursuit customers and develop a long term relationship with them. With clearly set attributes for the job position, he recruited Rob Parsons, a young baker that already worked for him in the commercial bank. He was positioned as market coverage professional. Parsons even with his two years of experience had already developed a strong relationship with some very important players inside the banking and insurance industries, and surely was not lacking reputation among the banking world. From the start of his job at Morgan Stanley he gained…...

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