The Cs Robinson–Ford Merger

Abstract

A previously employed equity trader at a prominent New York investment bank has returned as an MBA summer intern. Her primary responsibility is to assist the heads of the HR department with the integration of a recently acquired California equity research firm. The case opens and ends with the intern trying to manage an irate head of security for a perceived breach of security caused by differences in New York and California labor laws while in between other issues of varying urgency are raised. This case lets students approach real-time post-merger integration issues from both a technical and human relations point of view. Key issues addressed in the case include assembling the "right" integration team, resolving title- and salary-mapping differences, and managing a significant cultural shift. Excerpt UVA-BP-0481 Rev. March 30, 2009 THE CS ROBINSON–FORD MERGER “What da hell is going on over dere? Don't you people know dat dis country is in a security crisis, and I don't need no HR person muddying up my waters? Just get da damn fingerprinting and drug testing done!” Then Donny Smith, executive director of firm security, slammed down the phone. Jacqueline Burgess sat holding the handset with Smith's Brooklyn accent ringing in her ears and wondered what to do. Burgess was a summer associate in the Human Resources department at Chaffee, Scott, and Robinson (CS Robinson), a prominent New York City investment bank. CS Robinson had recently completed the acquisition of Ford, Inc., and Burgess had been in her job for only five weeks. She wanted to hand over this security problem to her immediate supervisor, but she knew that she had inadvertently created the situation and wanted to fix it. The Investment-Banking Industry By 2004, the U.S. investment-banking industry had gone through significant changes. The technology boom of the 1990s had attracted the best talent coming out of universities. A wave of consolidations during the boom had left the investment-banking industry with fewer players but with larger portfolios of services. With banks able to service a much broader range of client needs, client demands increased, and the banks that had avoided growth through consolidation had to work harder to compete. . . .