Merrill Lynch's IT Initiatives|IT and Systems|Case Study|Case Studies

Merrill Lynch's IT Initiatives

            
 
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Case Details:

Case Code : ITSY038
Case Length : 16 Pages
Period : 1997 - 2004
Pub Date : 2004
Teaching Note :Not Available
Organization : Merrill Lynch
Industry : Financial Services
Countries : USA

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.



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Excerpts

The Need for It

Merrill Lynch (ML) was considered a conservative company, which gave importance to the personal touch. The company ensured that it kept its FAs posted of the latest happenings in the financial markets through strategic tie-ups...

The Trusted Global Advisor Project

SYSTEM DESCRIPTION
The TGA marked a complete overhaul of the IT systems at ML. ML's leading business unit; Global Private Clients (GPC) announced the implementation of TGA in July 1995. It took more than three years to completely rollout the system, finishing in October 1998...

SYSTEM UTILITY
The TGA offered maximum convenience to the FAs as they could customize information requirements according to their needs and preferences. A customisable information centre (CIC) was located at the top right hand corner of the TGA screen (Refer Exhibit II for TGA Screen)...

IT and Systems Case Studies | Case Study in Management, Operations, Strategies, IT and Systems, Case Studies

TGA GOES ONLINE
Realizing that TGA's services could be made available to clients too, ML decided to overhaul its existing website to accommodate TGA's features. The web-based version of TGA for clients was called Merrill Lynch Online...

The Problems with TGA

In early 2000, media reports commented that TGA was becoming outdated, given the fast changing requirements of the FAs. It was also observed that the system was not crash free.

In March 2000, a TGA system, which processed roughly 160,000 orders per day, crashed. The situation was managed by the brokers by using a backup system.

In the next couple of years, the system became prone to regular crashes...

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