From John Mack, former CEO of Morgan Stanley, an intimate personal memoir and riveting business story, recounting how he helped grow the company from 300 to 50,000 employees over four decades, transformed a notoriously competitive culture into a successful and collaborative one, and lead the company through the 2008 financial crisis.
During his thirty-four-year tenure at Morgan Stanley, John Mack’s goal was to build the strongest and most productive team on Wall Street. His ability to motivate his employees to do their best work, especially in times of crisis, was fostered by his willingness to slash through bureaucracy and stand up to powerful interests. A forceful personality, one journalist said Mack was “described as ‘charismatic’ so regularly that it could be part of his name.”
In Up Close and All In, Mack traces his personal journey from a one-stoplight North Carolina mill town to a fortieth-floor corner office on Wall Street and shares the life lessons he learned along the way. He developed a titanium-strength stomach for risk, stress, and competition while landing accounts early in his career, as investment banks fought like wolfpacks to take advantage of new deregulation, fielding business raids, booms, and busts. As he rose through the ranks, he never forgot where he came from, relying on his instincts, doing what was right, and listening to his people on the front lines. This culture of trust and collaboration helped Morgan Stanley anticipate future trends before other firms, adapt quickly, and achieve record profits.
This gripping memoir includes both humbling lows like when Mack made the difficult decision to leave Morgan Stanley in 2001 and exhilarating highs such as when he made an eleventh-hour agreement with the Japanese bank Mitsubishi to save the company during the 2008 financial crisis, having refused to give in when top regulators pressured him to sell the firm for $2 per share.
With humor and honesty, Mack shares advice on both business and life: how to create a culture of team players, how to keep perspective during crises, how to make difficult decisions when all eyes are on you, and more. From a singular man who’s as unafraid to cry publicly as he is to anger some of the most powerful people in the world, this is an indispensable guide to living and leading well.
About the Author
John J. Mack is the former CEO and chairman of the board at Morgan Stanley, the New York-based investment bank and brokerage firm.
Industry Reviews
"John Mack has written a fascinating, fast-paced autobiography highlighting his visionary leadership throughout a long and distinguished career. In 2008 when global financial markets were rocked by an unprecdented crisis and Morgan Stanley faced a real solvency threat, he brilliantly negotiated an infusion of private capital to secure Morgan Stanley's future and he worked with the Treasury and the Federal Reserve to transform the firm from an investment bank to a bank regulated by the Federal Reserve with access to its financing window. Under his leadership, Morgan Stanley repaid the $10 million loan it was required to take by the government within two years with a 20% return to taxpayers. Having led Morgan Stanley through unprecedented challenges, he worked with his board to name James Gorman as his successor—another in a long line of decisions that have benefitted the firm he loved. This book is a testament to John Mack’s title as a Wall Street legend." -Laura Tyson, Distinguished Professor of the Graduate School
