Morgan Stanley 2003 Annual Report Download - page 29
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Please find page 29 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.13 Rights,whichstipulatestherightsofmutualfundsinvestorsworkingwith
us.And,weplantodomore.
Wehavemadeimportantorganizationalchangesinanefforttoproac-
tivelyidentifyandaddressotherpotentialconicts.OurnewPresident,
SteveNewhouse,hasbeenchargedwithasingle-mindedfocusonclients
—
coordinatingandexpandingallofourclient-relatedactivitiesacross
businessunits.InbringingEricDinallotothermfromNewYorkState
AttorneyGeneralEliotSpitzer’sofce,weestablishedavaluableinternal
voiceforclients.Eric’sjobwillincludeworkingwitheachofthebusi-
nessunitsintheircontinuingefforttoidentifypracticesorperceptions
thatmaybeinconictwiththespiritoftheregulatorylawandaddress
potentialissuesbeforetheybecomeproblems.Andinnominatingthe
respectedHowardDavies,formerChairmanoftheFinancialServices
AdministrationintheUnitedKingdomandcurrentlyheadoftheLondon
SchoolofEconomics,toourBoardofDirectors,wewilladdanacknowl-
edgedleaderintheareaofriskmanagementandregulation.
Therewillbesomewhosaywewereforcedtomakesuchabroadarray
ofchanges.Insomecases,theywillbecorrect.Butthebroaderimperatives
thatwehaveundertakenonbehalfofourclientswerebegunwithasimple
visionstatementcreatedmorethanfouryearsago,beforemanyofthe
currentissuesarose.Clearly,theregulatoryenvironmenthasbecomemore
intense.Butwewillworktogetherwithourregulatorstondeffective
solutions.And,wehope,notjustwithourrmbutacrossourindustry,
ahealthierportraitofoureffortswillemerge.Iknowthatourcommit-
menttoclients
—
totheirbestinterestsandtheirultimatesuccess
—
isas
unshakableasever.
Webelieveourstrategyofbeingclient-drivenisworking.Wehaveseen
itinourmarketshares.Wehaveseenitinourrevenues.Wehaveseen
itinourclientsatisfactionnumbers.Wehaveseenitinthedealsweare
beingawardedandtheassetsindividualinvestorsareentrustingtous.We
haveseenitintheefciencieswehavecreated.Andwehaveseenitinour
internalorganization.
MorganStanleyAnnualReport2003