Morgan Stanley 2001 Annual Report Download - page 14

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Expertise is a precious commodity, but trust is even rarer. Individuals entrust
their Morgan Stanley financial advisor with the fruits of their career, with their
retirement and with the financial security of their children. Institutional clients
demand that Morgan Stanley earn trust throughout their organizations —
whether from their portfolio analysts, technologists, operations and finance
people, their board or their CEO.
Trust grows from personal experience with an individual and extends gradually
to the firm as we demonstrate market excellence, high standards of integrity
and a genuine concern for the client. Whether that client is an individual, an
organization or a management team, we seek to build trust by delivering consis-
tently on promises large and small.
WORKING RELATIONSHIPS
AGERE
The $4.1 billion offering of Agere Systems,
a subsidiary of Lucent Technologies, was
the largest technology IPO in U.S. history
and culminated a two-year effort by a
Morgan Stanley team comprising profes-
sionals from Equity Capital Markets,
Fixed Income, Corporate Finance and
M&A. Morgan Stanley’s connection
with Lucent goes back to 1996, when
we lead-managed its spin-off from AT&T.
In 2001, Lucent and Agere trusted
Morgan Stanley to help them generate
shareholder value through a unique and
innovative debt-for-equity swap and a
commitment of Morgan Stanley’s own
capital to make that idea a reality.
THE PROFESSIONAL
FOUNDATIONS PROGRAM
Morgan Stanley brings a new approach to
training newly hired financial advisors in
the knowledge, skills and tools they need
to earn their clients’ trust. Our Professional
Foundations Program was developed with
the help of our most successful branch
managers, financial advisors and others
from across the U.S. The program moves
training out of New York City to multiple
sites around the country, with Web-based
components as well; it focuses on
assessing financial plans and then find-
ing the right solutions. Additional training
will continue throughout the career of
every Morgan Stanley financial advisor.
MORGAN STANLEY ANNUAL REPORT 2001 11