Allow the roast to sit covered and unrefrigerated for 1 -1½ hours to come to room temperature before cooking.
Pat dry roast with paper towels and season the roast with salt and black pepper.
Heat 1 tablespoon olive oil over medium-high heat in a large dutch oven or a large pot with lid.
Sear the roast in the hot pot until browned, turn the roast and continue to sear all the sides. 3-4 minutes per side, add additional oil as needed.
Remove the roast from the pan.
Add the onions, carrots, celery and garlic to the pot with additional olive oil as needed. Let the veggies cook for 3-4 minutes.
Add the roast back to the pan, along with the beef broth, red wine and herbs.
Bring to a simmer on the stovetop over medium-high heat.
Cook for 2 hours on simmer, then add the baby potatoes to the pot. Continue to simmer for another 1½ - 2 hours until potatoes are fork tender.
Discard the bay leaf and remove and drain the liquid to make the gravy.
Keep beef covered while making the gravy.