Morgan Stanley to block unvaccinated New York office staff – .

Morgan Stanley to block unvaccinated New York office staff – .

Morgan Stanley will ban employees and customers who have not been fully vaccinated against COVID-19 from entering the bank’s New York City offices, according to an internal memo.

“As of July 12, all employees, casual staff, customers and visitors will be required to certify that they are fully immunized to access Morgan Stanley buildings in New York and Westchester,” said the director of human resources. Mandell Crawley in the memo, which was obtained by the Financial Times.

After July 12, those who do not certify to be fully vaccinated will lose access to the building, according to the note. Those who are not fully immunized would continue to work from home.

The “overwhelming majority of the staff” have already declared having received their pictures, the memo notes, according to the FT.

The policy will allow the bank to remove certain COVID restrictions in the office, such as the requirement for masks and social distancing, the bank said.

morgan stanley building
The policy will allow Morgan Stanley to remove some COVID restrictions in the office, such as the requirement for masks and social distancing, the bank said.
Alamy Stock Photo

The FT said Morgan Stanley had already deployed “vaccine-only” spaces in some divisions.

The bank’s strict vaccine requirement comes as its executives demand a swift and full return to the office. General manager James Gorman issued a stern warning to his staff last week, telling them to return to the office before Labor Day, or face a pay cut.

Morgan Stanley James Gorman
Morgan Stanley CEO James jGorman has made it clear his expectations of Morgan Stanley employees.
Patrick McMullan via Getty Images

“Make no mistake about it. We do our work in the Morgan Stanley office, and that’s where we teach, that’s where our interns learn, that’s how we develop people, ”said Gorman. “If you can go to a restaurant in New York, you can go into the office. “

“On Labor Day, I’ll be very disappointed if people haven’t found their way into the office. Then we’ll have a different kind of conversation, ”he added.

Separately, the bank’s executives released a note last week saying the bank had resumed face-to-face meetings with customers and investors.

“We tore up the bandage at Morgan Stanley and took investors on a visit to headquarters last week,” a Morgan Stanley executive said in the note. “Everyone will have their own timeline and do things when they want to, but I have to say if it felt good to review IRs and investors together. “

Other financial giants have made similar attempts to restore normal working conditions. Goldman Sachs welcomed employees back to the office last week with live music and free food-truck lunches.

Goldman has previously required employees to disclose their immunization status, but has not publicly announced any bans on unvaccinated office staff.

Private equity giant Blackstone said last month that its U.S. employees in some divisions could return to their offices if they were fully immunized.

With post wires and additional reporting by Lydia Moynihan


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