Summary
Overview
Work History
Education
Skills
FINRA CERTIFICATIONS
Timeline
Generic

Michael J. Murphy

Glen Rock,NJ

Summary

Financial Services Leader with extensive success leading multifaceted global client-facing and shared services organizations. Formidable track record guiding strategic decision making, tactical execution, and collaborating across functions to build, streamline, monetize, and scale world class sales and service teams and operations. Highly knowledgeable in planning and implementing budgets, strategic initiatives and employee training programs. Known for driving results, exemplary team-building and project oversight skills.

Overview

20
20
years of professional experience

Work History

Managing Director - Digital Direct Client Services

Morgan Stanley
New York, NY
02.2017 - 12.2023
  • Led E*Trade by Morgan Stanley's core client facing enterprise comprised of 2,000+ associates across 4 primary markets for customer service and relationship management, as well as just under 40 markets for financial consultants. Representing 7 million retail, stock plan, and banking clients.
  • Established a cross functional enablement support team for the field to deliver scale and efficiencies via platforms and knowledge management. Teams design and maintain digital platforms to provide front-line personnel with tools to train, service and manage client relationships.
  • Executed business model transformation via Strategy, Planning and Performance Management. Supported firm wide goals and objectives of $35B in net new assets under management, and just under $10B in service to sales wealth management advice referrals.
  • Executed recruiting and forecast planning via Workforce Optimization teams. Achieved an annual forecast accuracy level of within +/- 5% of headcount needs.
  • Led integration team. Operation of integration teams to ensure the smooth transition of E*TRADE customer base into Morgan Stanley.

Managing Director - Retail Distribution

TD Ameritrade
Jersey City, NJ
06.2013 - 02.2017
  • Responsible for leading a shared services organization of more than 500 associates.
  • Directed all Retail Support and Operations functions focused on delivering programs and processes needed for Retail branches and call centers to execute on key initiatives and business goals.
  • Guided the development of a Learning and Development ecosystem from new hire to management development within the branches and call centers.
  • Continued focus on mitigating risk and protecting the franchising by building out a framework for oversight and supervision for the branch network.
  • Continued to make our award winning platform Investools a proven leader in investor education, while reorganizing and leading the Active Trader service team and workforce management teams to better support our clients
  • Led the TD Bank partnership team focused on driving additional growth opportunities across TD Ameriirade and TD Bank. This group was primarily responsible for managing the sales funnels for referrals and credit cards. We achieved double digit program growth in number of bank referrals up 13%, up 12% in asset growth, and up 36% in advisory referrals.

Senior Vice President - Retail Brokerage

E*TRADE Financial
New York, NY
07.2003 - 06.2013
  • Core responsibilities included managing and oversight for the over 1100 retail sales and service personnel efforts to grow; net new assets, net new accounts, and annualized revenue production via product sales.
  • Managed additional revenue producing groups such as Fixed Income Desk, Syndicate Desk, Equities/Options Order Room and Best Execution, and Future/Forex and Block Desk.
  • Significantly improved all key internal customer experience metrics to record levels - customer satisfaction +26%; first contact resolution +91%, and decreased customer attrition by 23%.
  • Significantly improved all key internal customer sales and relationship metrics to record levels - sales headcount +42%, while opening an additional 30 branches; net new assets +4B
  • Responsible for growing and integrating best of breed strategy during acquisition of Harris Direct and BrownCo customers.
  • Directed annual budgeting process and oversaw financial performance of departmental operations.

Education

Accelerating Leadership Capability Program - Organizational Leadership

Cornell University
Ithaca, NY
06-2016

Bachelor of Science - Business Economics

Oneonta State University
Oneonta, NY
05-1988

Skills

  • Financial Services
  • Sales Leadership
  • Strategic Planning & Partnerships
  • Cross-Functional Team Leadership
  • Business Development
  • Client Relationships
  • Budget Management
  • Organizational Development
  • Branch Sales Management and Operations
  • Risk Mitigation
  • Succession Planning
  • Performance Management
  • Revenue Growth
  • Mentoring and Training

FINRA CERTIFICATIONS

  • Series 7 General Securities
  • Series 8, 9/10 General Securities Sales Supervision
  • Series 24 Uniform Supervisory Principal
  • Series 63 State Law

Timeline

Managing Director - Digital Direct Client Services

Morgan Stanley
02.2017 - 12.2023

Managing Director - Retail Distribution

TD Ameritrade
06.2013 - 02.2017

Senior Vice President - Retail Brokerage

E*TRADE Financial
07.2003 - 06.2013

Accelerating Leadership Capability Program - Organizational Leadership

Cornell University

Bachelor of Science - Business Economics

Oneonta State University

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Michael J. Murphy