This article from Marketing Profs makes some interesting points about roles and organization structure: Defining Roles of the Product Management Team. But I really wonder how companies will become customer centric if the focus continues to be on Product Management instead of Segment Management. Many of the challenges service organizations have today is that they borrowed the product structure from packaged goods companies without revisiting it.
I would argue that companies such as telcos and FIs really must have segment managers if they are going to avoid silo-driven thinking.