Heat 2 tablespoons of olive oil in a large pot or Dutch oven over medium-high heat. Add the beef chuck cubes in batches, searing them until golden brown on all sides, about 5-7 minutes. Remove and set aside.

In the same pot, lower the heat to medium and add the diced onion and minced garlic. Sauté for 3-4 minutes until the onion is translucent and fragrant.

Stir in 2 tablespoons of tomato paste, allowing it to caramelize slightly for about 1 minute.

Pour in about 1 cup of beef broth, scraping up the browned bits stuck to the bottom of the pot.

Add the browned beef back into the pot along with the remaining 3 cups of beef broth. Stir well and bring to a gentle boil.

Add the diced carrots, potatoes, parsnips, and celery to the pot, ensuring they are evenly distributed. Stir gently.

Sprinkle in 1 teaspoon each of dried thyme, dried rosemary, along with a bay leaf, salt, and pepper to taste. Stir to combine.

Bring the stew back to a boil, then reduce the heat to low. Cover and simmer for 2 hours until the beef is fork-tender.

Taste the stew and adjust seasoning as needed. Remove the bay leaf before serving.

Ladle the stew into bowls and top with fresh chopped parsley. Serve hot.