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Morgan Stanley chief talks hard about returning to office


James Gorman, CEO of Morgan Stanley, sent a stern message to New York-based employees who don’t want to go back to the office, arguing that if they’re comfortable eating in the city, they should feel safe working at the bank’s headquarters.

“If you can go to a restaurant in New York City, you can come into the office and we want you to be in the office,” Gorman said Monday at a financial services conference organized by Morgan Stanley.

Gorman said the bank has not yet begun to “dictate” employees’ attendance at work, unlike Goldman Sachs, which on Monday asked its employees to return to the office. However, Gorman said he sent a “very strong directional” message that he wanted the workers in the 1585 Broadway Building to go back to their offices.

“[By] On Labor Day, I would be very disappointed if people didn’t find their way to the office and then we would have a different kind of conversation,” Gorman added, referring to the US public holiday on September 6.

Gorman He said the bank knew it could operate “with greater flexibility” during the coronavirus pandemic. But he indicated that he would take a dim view of employees who do not work regularly in the office, especially those who want to do their work remotely from an out-of-state location such as Florida or Colorado.

“If you want to get New York wages, you work in New York,” he added.

In March last year, Gorman was diagnosed with the virus and made وجعل full recovery. Since July 2020, he is attending to work and gradually increasing the number of days he spends in the office.

“My driving style was kind of deliberate,” he said. “One day a week in July. . . I am now in four days.”

However, Gorman said employees located in regions with high infection rates, such as India, were not expected to report to the office.

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He said returning to the office was especially important for junior employees who were training for the job. “[The office is] Where we teach is where our trainees learn. This is how we develop people. It builds all the soft cues that accompanies a successful career not just related to Zoom presentations.”

Gorman said more than 90 percent of Morgan Stanley employees who already worked in its offices have now been vaccinated, adding that he expects that percentage to increase to 98 percent. The bank recently collaborated with a healthcare provider to deliver immunizations in its offices.

Morgan Stanley said disclosure of the vaccine’s status would be voluntary, unlike Goldman Sachs has cost That its employees disclose whether they have received a jab.



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