Blue Blood and Mutiny

perpetually in search of the analysis that supported his view of the world,” Scott says. “

pay scale and the workload mitigated against getting the best people in the managerial slots,

formulaic approach would create too much instability from year to year, and the only way to keep the bankers on a relatively even keel was for managers who understood the business to decide on their com‍

One year, a banker might be hatching deals and have little to show for it; the next year, all the deals might come to fruition and he would earn a huge bonus.

John had enough appreciation of situation and subtlety that an apology can go a long way.”

Mack had energy and charisma and he could have developed a more productive team-oriented culture in Retai

joined forces with Dean Witter to gain retail distribution and asset management, and Jo

Purcell’s hierarchy, loyalty—not to the firm, but to him—trumped competence and experience

For all the high hopes for a merger, Purcell’s old firm, McKinsey and Company, estimated that “only 12 percent of merged corporations grow revenues at above the rate of other companies in the same industry, while up to 40 percent fail to achieve promised cost savings.

McKinsey and Company, estimated that “only 12 percent of merged corporations grow revenues at above the ra