Morgan Stanley 2003 Annual Report Download - page 25
Download and view the complete annual report
Please find page 25 of the 2003 Morgan Stanley annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.11 setinmotionafairlyrobustchangeinthewayweapproachedourbusi-
nesses.Itisanactivitythatcontinuestothisdaythroughouttherm.
Itestablishedafoundationforthenancialresultswearenowseeing.
Manyofthechangesenactedbeganwithgainingadeeperunderstanding
ofourclientsandtheirbehavior(bothindividuallyandintermsoftheir
owncustomers)
—
anunderstandingthathashadsignicantstrategic
implicationsforourbusinesses.
In2000,weestablishedrmwidestandardsforthemeasurementof
clientsatisfactionandthestrengthofourbrand.Feedbackfromour
clients
—
aswellasimprovementsintheirestimationofus,especially
vis-à-visourcompetitors
—
hasbecomeacriticalelementofourself-
evaluation.Clientsatisfactionsurveysandclientprotabilitymetrics
(whichhadnotbeenbroadlyusedinthepast)arenowaroutinepartof
ourbusinessactivities.Notsurprisingly,differentbusinessunitshavetaken
differentpathsinidentifyingclient-basedsolutionsandachievingmarket
sharegrowth.
InourInstitutionalSecuritiesgroup,wehaveestablishedSenior
RelationshipManagerstooverseeourongoingclientrelationships.In
doingso,webrokedownmanyoftheinternalsilosthathadbeenbuilt
whichrestricteddevelopmentofmoreeffectiveoverallclientstrategies.
Recently,TerryMeguid,headofourInvestmentBankingDivision,created
theStrategicClientEngagementGroup,ateamofeightofourmostsenior
bankers,whosesoleresponsibilitieswillnowbetofocusonourportfolio
ofclients,withlessoftheday-to-dayburdenofadministration.
TheentireInstitutionalSecuritiesbusiness,undertheleadershipof
VikramPandit,isfocusingontheimportanceofexecutionasadriverof
clientsatisfaction,differentiationandfuturegrowth.Superiorexecution
willensurethatwenotonlyunderstandclientstrategy,butthatwealso
creategreatersatisfaction.Thefocusonexecutionwilldriveinnovation
bybuildinguniqueproductsolutionsforcomplexclientproblems.And
superiorexecutionwillgiveusmajoroperatingadvantagesbecausewe
willbeabletoreplicatesolutionsfordifferentclientsegmentswithsimi-
larneeds.
JohnSchaeferandtheIndividualInvestorGroupdeterminedthata
newservicemodelsegmentedbyclientneedswasinorderforhisbusiness.
MorganStanleyAnnualReport2003