Employees, clients, and visitors will need protection against the coronavirus to enter Morgan Stanley’s New York and Westchester locations.
What We Know:
- The bank’s new policy will go into effect on July 12, according to a memo by chief human resources officer Mandell Crawley. The measure will allow the company to remove indoor restrictions, such as face coverings and maintaining social distancing. After this date, Morgan Stanley will not allow unvaccinated people on-premises. Crawley states that the “overwhelming majority of staff” already reported obtaining their dosages.
- Currently, the VaccineCheck system operates based on honor; however, as time goes by, the bank may ask employees and clients to provide proof of vaccination.
- Morgan Stanley’s chief executive James Gorman is behind the company’s tough stance. The Financial Times reported that Gorman believes if one feels comfortable going out to eat, then they should also feel the same way at work. Additionally, Gorman mentioned at a conference he will be “very disappointed” if all his US-based employees aren’t working inside the offices by September. To ensure the return of all workers, Morgan Stanley partnered with Capsule Pharmacy in April to provide employee-only vaccine clinics at its Times Square location.
- Alongside this, the bank already implemented “vaccine-only” workspaces across divisions like institutional securities and wealth management. Crawley mentions that doing so enhances “collaboration and productivity” among workers.
- Morgan Stanley’s decision follows those of other big-name financial corporations. Recently, JP Morgan’s CEO Jamie Dimon announced he wanted all US staff working on location by July. In addition, Goldman Sachs instructed their bankers to report their vaccine status before returning to work this month.
- In December, the US Equal Employment Opportunity Commission declared that companies could bar unvaccinated people from workplaces, subject to medical and religious exemptions.
Furthermore, Morgan Stanley will begin easing restrictions as of Wednesday; on this date, the bank will no longer require people to complete the health check form.
