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Stanford Business School Honors Morgan Stanley's Robert G. Scott with Excellence in Leadership Award
April 20, 2004
NEW YORK-Stanford University's Graduate School of Business honored Robert G. Scott, advisory director and former president and chief operating officer of Morgan Stanley, with the School's 2004 Excellence in Leadership Award at a gala dinner of nearly 200 guests here Tuesday.
The award marks the Business School's commitment to underscoring the importance of leadership in business by highlighting the achievements of a senior executive and Stanford Graduate School of Business alumnus or alumna who has made significant contributions to both the corporate world and the community.
"Management is a tough job," said Robert L. Joss, dean of the Stanford Graduate School of Business. "When we see a graduate of the School who has demonstrated integrity, who has managed an enterprise through complexity at the highest levels, and who understands that business is a social institution that must earn the trust of the community, we, as a school of management, want to recognize those achievements.
"Bob Scott has demonstrated his leadership as an executive who led the merger of two enormous financial institutions, led rebuilding efforts after the September 11 losses at Morgan Stanley's World Trade Center offices, and championed social issues and community investment," said Joss.
During his 34-year career at Morgan Stanley, Scott has held virtually every major post in the company, including head of investment banking, director of corporate finance, and chief financial officer, before becoming president and chief operating officer. Most significantly, he was part of the senior management team that structured the 1997 merger with Dean Witter Discover, as well as head of the Morgan Stanley transition team for the merger. He was named CFO of Morgan Stanley Dean Witter at the time of the merger and became president in 2001.
During a talk at the Stanford Graduate School of Business last November, Scott reflected on leadership, decision-making, and values. "Start by knowing yourself and what you believe in. Learn to listen, to connect to people, and if you get lost-reflect back on your values. They will help you stay the course," he told MBA students. "Throughout every stage of your career you're going to shape your character by how you handle yourself . by your actions and inactions. Are you going to stick by your principles or rationalize away little deviations?" he asked, urging students to develop strong values and integrity. "Are you going to let your faithfulness to principle waiver in the face of your ambition? Will you put your firm at risk to benefit personally?"
As part of his responsibilities at Morgan Stanley, Scott also led Morgan Stanley's diversity efforts, not only in hiring and staff development but in the community at large. He shepherded the firm's sponsorship of a new, year-long Smithsonian exhibit to commemorate the 50th anniversary of the Supreme Court's groundbreaking decision that ended legal segregation in the United States. In addition to the Brown v. Board of Education exhibit, to open May 15 at the National Museum of American History, Morgan Stanley is also underwriting a series of educational programs for middle and high school students to discuss the decision's impact on today's society.
Scott also played a major role in a Morgan Stanley employee effort to raise funds for the 10-story, state-of-the-art Morgan Stanley Children's Hospital of New York-Presbyterian, which just opened in November 2003. He sits on a variety of boards, serving as executive vice president of the Greater New York Council of the Boy Scouts of America, chairman of the American Museum of Fly Fishing, and as a member of the Advisory Council of the Stanford Graduate School of Business. He is also a member of the Board of Trustees of New York-Presbyterian Hospital.
Born in Montclair, New Jersey, Scott earned a bachelor's degree in economics at Williams College in 1968 and an MBA from the Stanford Graduate School of Business in 1970.
The award dinner, held at the Union League Club, was generously supported by Dean's Circle Sponsors: Citigroup, General Atlantic Partners, Jefferies & Company Inc., Scott M. Stuart and Kohlberg Kravis Roberts & Co., Morgan Stanley, and Pfizer Inc. Corporate Sponsors included Banc of America Securities, General Electric Company, and Perry Capital.