Campbell and Bailyns Boston Office: Managing the Reorganization C&B is one of the five largest investment bank

in the world, with strong presence in all banking segment industry including: corporate finance, investment management, mergers and acquisitions, securities sales and trading. The Boston office, which is C&B largest regional office, is undergoing a major reorganization to address the loss of business to competitors because of its assumed lack of detailed product expertise. The Boston office used to spit its portfolio of customers between 5 Generalists, who managed 75% of the total taxable bond sales and 7 Specialists, who managed 25% of taxable bond sales. The former earned up to a million dollars in salaries by making multiproduct trades with large accounts, which often required the assistance of one of more specialists, whereas the later earned twice less by making smaller trades with smaller accounts. Following the reorganization in June 2007, the Boston office is now structured in key account teams (KAT). The former 5 Generalists are now heading KAT that are specialized by product. Each KAT interact with the top 60 customers for their respective product of expertise. In addition, C&B introduced a new performance management system (PMS) to address the practice of salespeople to only focus on deals that generated the highest margins. The old PMS used to assess salesman on annual sales volume and regional sales managers own assessment. The new PMS includes softer measures, such as salesman responsiveness to the needs of traders in New York and the level of motivation in learning new product. The outcome of these 2 major changes is contrasted. On one hand the new KAT organization only pleased half of the Boston Office customers. Half of the customers dislike the constrain to deal with multiple specialist to close a trade; whereas members of the KAT were worried of being to specialized and to limit their career prospects....