To

Rob Parson
Principal
Morgan Stanley

From
Deepanshu Singh
Executive assistant

Date: 28/11/2019

Subject: letter of appreciation

With respect to your stay at Morgan Stanley, you have done the splendid job
in reviving the Capital Market Services (CMS) division at Morgan Stanley. The way you have served
your client base has not only improved our reputation in our client base but also has improved our
market share from mere 2% to 12.2%. We acknowledge the extra efforts you have taken to build the
reputation and revenue for our divisions. The senior managers had also believed to serve the clients
in CMS division we must perform business more than usual which you have successfully did in being
in good relations with most of our client. But being the new member of this firm, you must gain the
confidence of your peers and senior managers. We acknowledge the efforts of bringing new contract
to the firm but while doing it you have outstretched companies’ policies and norms which have set
some inconvenient examples among our peer group. It has been a strong cultural shift for you, and
we understand it will take some time, we acknowledge the way you are trying to fit slowly in Firm
culture and want you to not lower your efforts in achieving it.

We at Morgan Stanley believe in the One Firm Contribution and we want to instil this among our
every employee. The Morgan Stanley way of doing business put strong emphasizes on team-work,
cooperation and cross-selling. Professionally you have contributed beyond expectation to this firm,
but a managing director of the firm requires strong interpersonal skills, respecting its peers, leadership
skill and should led by example. We found you a bit below the standard set by the firm for Managing
Director role in present situation and will not be offering promotion. We expect you to gain the
required skill by engaging in Morgan Stanley way of doing business and we want to analyse you more
before making the promotion. The tenure of you being as Principal is also at lower side to analyse the
competency for Managing Director the firm. It’s not an easy task to perform and it may take some
time, we will try to provide all necessary guidance and training to assist you as you are the valuable
employee of this firm. However, we have decided based on your job performance to give you the
performance bonus. We hope you understand stakeholders’ concerns and would take the feedback
seriously give us some more time to analyse you more accurately.

Your regards,
Deepanshu Singh