The original tale of Wall highway legend Joe Grano—six defining moments in braveness, management, and resolution that would encourage readers of all ages, and at each degree in lifestyles
From Vietnam to Sept. 11, from the marketplace crash of '87 to modern-day monetary difficulty, Wall highway legend Joe Grano has weathered the main defining crises of the final 40 years. no matter if prime draftees via strive against as a eco-friendly Beret in Vietnam, regrouping a workforce of agents in the course of the industry crash of 1987, or operating tirelessly to reopen Wall highway after the assaults on Sep 11, Joe has served on the entrance traces of our nation's such a lot defining moments, best or even inspiring others while issues appear at their darkest.
established round six particular crises he confronted in his existence and profession, You cannot expect a Hero will describe how Grano was once capable of conquer demanding situations either own undefined. no matter if instructing himself to stroll back after maintaining crippling conflict wounds, emerging from his hardscrabble beginnings to develop into a best dealer at Merrill Lynch, or shepherding the merger of PaineWebber and UBS, his adventure has been hard-won and his viewpoint like not anyone else's.
via all of it, Grano has discovered to discover the chance in any hindrance, tips on how to calm and encourage these he leads, and the way to discover the genuine option to what can look as an insurmountable challenge.
This dynamic booklet will motivate somebody seeking to make experience of our swiftly altering international, and the way to develop or even thrive via any problem. difficulties require ideas, and obstacle creates actual leaders.
Joseph J. Grano, Jr. is Chairman and CEO of Centurion Holdings LLC, a firm that advises inner most and public businesses. From 2001-2004, Grano was once Chairman of UBS monetary prone Inc. (formerly UBS PaineWebber). Having joined the corporate in 1988, Grano is credited for turning PaineWebber round and shepherding its merger with Swiss banking vast UBS. Grano begun his profession as a inventory dealer at Merrill Lynch, the place he rose to varied senior administration positions over sixteen years. A adorned conflict hero, Grano was once selected by means of the White condominium to be chairman of the President’s place of birth protection Advisory Council after Sep 11, a place he held from 2002-2005. The recipient of numerous awards for management, civic contributions, in addition to honorary levels, he's interested in a variety of academic and philanthropic endeavors. He and his spouse, Kathy, dwell in New Jersey.
Mark Levine has written and collaborated on greater than 30 books, together with the easiest dealers moment Acts, Die Broke, and Lifescripts, in addition to countless numbers of journal articles. He lives Ithaca, long island, and is a member of the Authors Guild.
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Additional resources for You Can't Predict a Hero: From War to Wall Street, Leading in Times of Crisis
This strategy compelled an evaluate of functionality and created a meritocracy, not like the common process that resonates of socialism and rewards mediocrity. the quantity of the bonus an worker earned used to be in response to an procedure just like that utilized in awarding raises. for instance, a division manager’s overall repayment package deal can be $75,000 in wage, a inventory award equivalent to $10,000 worthy of inventory valued on December 31, and an advantage diversity of among $10,000 and $25,000. A supervisor whose functionality used to be judged to have “met standards” certified for an advantage on the low finish of the diversity. If functionality used to be judged to have “exceeded requirements,” the executive certified for an advantage in the course of the variety. provided that the manager’s functionality ranking was once “far handed standards” did she or he qualify for an advantage on the most sensible finish of the diversity. through growing sliding scales for either benefit raises and bonuses, we confirmed to staff that we valued their person efforts greater than the identify they held. I deployed different types of interpersonal exchanges at PaineWebber to illustrate my appreciate for workers’ humanity. a few critics classified those intangibles as manipulative and pointless. Admittedly, there have been occasions I hyped an occasion or a topic to get my ingredients to “drink the Kool-Aid. ” however the reason used to be natural and the end result equated to a greater state of affairs for the firm’s partners—who contain the workers themselves. So why no longer? As in such a lot different revenues agencies, the head salespeople at PaineWebber have been additionally given extra attractiveness for his or her stellar functionality. I continuously certain the head 20 percentage of the revenues strength, which totaled fourteen hundred humans: 20 percentage of 7 thousand monetary advisors. these fourteen hundred humans have been divided into 3 groups:• The Chairman’s membership consisted of 2 hundred monetary advisors generating $2 million or extra in sales. • The President’s membership used to be made of 400 monetary advisors generating among $1 million and $1. 999 million in sales. • The Pacesetters membership contained 8 hundred monetary advisors who produced among $500,000 and $999,999 in sales. the explicit monetary skills for the 3 teams have been reset every year in keeping with industry stipulations and projections. I raised the bar virtually each year, and so they continuously got here via. The Chairman’s membership used to be rewarded with a four-day stopover at a vacation spot lodge or a overseas urban. The President’s membership used to be despatched on a three-day journey to a family vacation spot lodge, just like the Phoenician in Arizona. The contributors of the Pacesetters membership have been divided locally and despatched on two-day celebrations of their parts. Spouses of the monetary advisors have been invited to boot. Senior administration and their spouses attended every one journey. every day of the development had scheduled enterprise conferences in the course of the mornings and rest occasions, resembling golfing and tennis, within the afternoons. We additionally scheduled a voluntary spouse-only assembly the place I met with the spouses, giving them an summary of the enterprise and our method.