Tony LoFrumento

By Lisa Yorgey Lester How Morgan Stanley is shifting from a product-centric to a client-centric organization. Its directive was clear: to become a premier client-centric organization. Following the publication of its 2000 annual report, in which Chairman and CEO Philip J. Purcell issued this proclamation, Morgan Stanley embarked on a journey that would transform the way the financial services firm does business. Today, customers have choices. In the financial services industry, in particular, products and services are quickly copied, undifferentiated and unable to maintain a significant and sustainable competitive advantage. Survival hinges on an organization's ability to compete based either on

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