NEW YORK (BLOOMBERG) - Morgan Stanley told employees they will need to be vaccinated against Covid-19 to enter its New York offices, as a growing number of Wall Street firms adopt policies delaying the return of staff who are not protected against the deadly virus.
The bank notified workers of the policy in a memo. Just last week, chief executive officer James Gorman fired off a warning shot to staff still uncertain about wanting to return to the office.
"If you can go to a restaurant in New York City, you can come into the office and we want you in the office," he said at a conference.
Mr Gorman estimated that more than 90 per cent of employees back in the offices were already vaccinated and expected that number to inch up closer to 100 per cent.
While the bank has not mandated a full return to office like Goldman Sachs and JPMorgan, Mr Gorman said if the offices were not filled up by Labour Day in September, "then we'll have a different kind of conversation".
BlackRock informed its US workforce of a similar plan last week, saying it would allow only fully vaccinated workers to come back to work starting next month.
Bank of America also plans to prioritise the return of vaccinated staff, bringing all of them back by early September.
The Financial Times reported Morgan Stanley's internal announcement earlier on Tuesday (June 22), noting it takes effect in New York City and Westchester on July 12 and also applies to clients and visitors.
