Karen Leary
Karen Leary
A case analysis presented by
Ranjita Ojha
35
Priyanka Kamble
31
Rubina Kuasar
88
Krutadnya Digrajkar
67
SITUATIONAL ANALYSIS
Karen Leary worked as an FC at Merrill Lynch for six years before moving to a management role. Leary’s management style was hands-on and aggressive.
She developed innovative sales and training programs as well as a voluntary mentoring program to motivate older, possibly complacent top producers and help younger FCs get started.
Although her aggressive approach to sales and compliance paid off with 30% increased business her first year, some FCs found her hands-on style off-putting and complained that she was
“always pushing you and looking over your shoulder.”
Leary hired Ted Chung specifically “to attract customers from the thriving community of
Taiwanese.
Chung brought in a $6 million account from a local Taiwanese industrialist who, according to
Chung, only spoke Chinese.
He was careful to formally document all activity and fulfill standard compliance procedures.
After one year with the company, Chung had yet to secure another client but hinted that there would be accounts soon.
he told Leary that he was confident he would soon become one of the top producers and was therefore requesting a private office
The breakdown in Leary and Chung’s relationship escalated from a series of miscommunications rooted in cultural differences
PROBLEM OF THE CASE
1. The most significant problem lies between Karen and Ted is cultural difference. Karen and Ted have come from different backgrounds and even though Ted is more
American than Taiwanese, it is still rooted in him somewhere. This brings a a huge difference in the way they handle things.
Hence, even though Karen has given Ted the sole responsibilty of handling the Taiwanese accounts, she cannot get through to him either as she doesn’t understand his style of working.
This creates a major communication gap
A case analysis presented by
Ranjita Ojha
35
Priyanka Kamble
31
Rubina Kuasar
88
Krutadnya Digrajkar
67
SITUATIONAL ANALYSIS
Karen Leary worked as an FC at Merrill Lynch for six years before moving to a management role. Leary’s management style was hands-on and aggressive.
She developed innovative sales and training programs as well as a voluntary mentoring program to motivate older, possibly complacent top producers and help younger FCs get started.
Although her aggressive approach to sales and compliance paid off with 30% increased business her first year, some FCs found her hands-on style off-putting and complained that she was
“always pushing you and looking over your shoulder.”
Leary hired Ted Chung specifically “to attract customers from the thriving community of
Taiwanese.
Chung brought in a $6 million account from a local Taiwanese industrialist who, according to
Chung, only spoke Chinese.
He was careful to formally document all activity and fulfill standard compliance procedures.
After one year with the company, Chung had yet to secure another client but hinted that there would be accounts soon.
he told Leary that he was confident he would soon become one of the top producers and was therefore requesting a private office
The breakdown in Leary and Chung’s relationship escalated from a series of miscommunications rooted in cultural differences
PROBLEM OF THE CASE
1. The most significant problem lies between Karen and Ted is cultural difference. Karen and Ted have come from different backgrounds and even though Ted is more
American than Taiwanese, it is still rooted in him somewhere. This brings a a huge difference in the way they handle things.
Hence, even though Karen has given Ted the sole responsibilty of handling the Taiwanese accounts, she cannot get through to him either as she doesn’t understand his style of working.
This creates a major communication gap