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• Case | HBS Case Collection | 2013

  Massachusetts Financial Services (Abridged)

  Brian J. Hall and Karen Huang

  This case describes the compensation and performance evaluations at an investment management company. The senior management team of Massachusetts Financial Services (MFS) Investment Management was contemplating an introduction of hedge funds at the firm, but many believed that typical hedge fund manager pay (20% of the upside) would harm the MFS culture, which glorified "star performance but not star egos." The case presents the MFS compensation philosophy and plan (including the plan's emphasis on subjective compensation), the types of people it attracted, the resulting culture, and how the senior management team approached the hedge funds question. It includes side discussion on firm-specific human capital. This is an abridged version of an earlier case.

  Keywords: compensation; incentives; investment management; performance measurement; portfolio management; Motivation and Incentives; Asset Management; Performance Evaluation; Compensation and Benefits; Financial Services Industry; Massachusetts;

  Citation:

  Hall, Brian J., and Karen Huang. "Massachusetts Financial Services (Abridged)." Harvard Business School Case 913-036, March 2013.

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• Case | HBS Case Collection | 2012 (Revised from original 2008 version)

  Negotiating Equity Splits at UpDown

  Noam Wasserman and Deepak Malhotra

  Michael Reich is having severe doubts about how he split the equity with his co-founders two months ago, when they completed a one-page "November Agreement." Since then, Michael has found an angel investor and has worked non-stop on the business, while one co-founder was off enjoying the winter break with his family and the other worked on lucrative consulting contracts for other companies. Michael has just sent his co-founders a proposal that would re-allocate the equity within their founding team, and all three founders are getting ready to reopen a negotiation they thought had been finalized.

  Keywords: Business Startups; Entrepreneurship; Capital; Venture Capital; Equity; Compensation and Benefits; Negotiation; Partners and Partnerships;

  Citation:

  Wasserman, Noam, and Deepak Malhotra. "Negotiating Equity Splits at UpDown." Harvard Business School Case 809-020, November 2012. (Revised from original July 2008 version.)

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• Supplement | HBS Case Collection | 2012 (Revised from original 2008 version)

  UpDown: Confidential Instructions for GEORG

  Noam Wasserman and Deepak Malhotra

  Michael Reich is having severe doubts about how he split the equity with his co-founders two months ago, when they completed a one-page "November Agreement." Since then, Michael has found an angel investor and has worked non-stop on the business, while one co-founder was off enjoying the winter break with his family and the other worked on lucrative consulting contracts for other companies. Michael has just sent his co-founders a proposal that would re-allocate the equity within their founding team, and all three founders are getting ready to reopen a negotiation they thought had been finalized.

  Keywords: Negotiation Participants; Agreements and Arrangements; Business Startups; Ownership Stake;

  Citation:

  Wasserman, Noam, and Deepak Malhotra. "UpDown: Confidential Instructions for GEORG." Harvard Business School Supplement 809-022, November 2012. (Revised from original July 2008 version.)

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