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Morgan Stanley and Benefits of an Integrated Client Information System

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Morgan Stanley and Benefits of an Integrated Client Information System
James P. Gorman, 49, joined Morgan Stanley in February 2006 as the President and Chief Operating Officer of the Global Wealth Management Group (McFadden .J , Nov 29 2007). Wealth Manager is responsible for providing the best customer services depends on the special require of unique customers. Also, Wealth Manager analyzes customers’ situations and help customers to confirm a great and selective project for managing money and investment. James P. Gorman prefers to invest in information technology, executive Support Systems and Customer relationship management system. First of all, information technology is one of the tools managers use to cope with changes (Laudon K.C , Laudon J.P , 2006). It is important for the development of Morgan Stanley, because in 2001, the technology was obviously a low precedence. After 2006, the technology and budget for the Global Wealth Management Group exceeded $500million for the brokers and therefore improved the Retail brokerage division. Executive Support Systems (ESS) assisted James .Gorman to incorporate data about external events, such as new tax and competitors. On the other hand, they also draw sum up information from internal Management Information System (MIS) and Decision Support System (DSS) (Laudon K.C , Laudon J.P , p.57 2006). The Executive Support System (ESS) assisted James P. Gorman design and achieve the best way to help the customers for their financial control and display the data of greatest importance to customers. Finally, Form the case “will ultimately help our financial advisors better manage their relationship with us (Laudon K.C , Laudon J.P , 2006)” it is shown that James P .Gorman also invest for the Customer Relationship Management Systems (CRM). According to Peel.J (p.3, 2002), Customer Relationship Management (CRM) is about understanding the nature of the exchange between customer and supplier and managing it appropriately. Thus, it can help developing relationship with customers and increasing the
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