Morgan Stanley is stepping up efforts to ensure employees comply with its rule that they be vaccinated to enter its buildings.
The firm told vaccinated staff to provide documentation of their shots by Oct. 1, after previously letting them attest to their status, according to an internal memo. The extra step is meant to “provide greater comfort for those working in the office,” it wrote.
Almost 90% of Morgan Stanley’s workforce — and nearly 95% of its employees in New York — promised that they’re vaccinated after the bank rolled out its policy in June, which ranked among the financial industry’s most restrictive for returning to offices. Firms across Wall Street have been adjusting their rules in recent weeks or stepping up enforcement as the highly transmissible Delta variant spreads.
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Though Morgan Stanley hasn’t set a companywide deadline for returning to offices, Chief Executive Officer James Gorman told a conference in June that he would be “disappointed” if people weren’t back by the Labor Day holiday in September.
The spread of Delta mutation since then and the slower-than-expected pace of inoculating the public is complicating efforts to bring more workers back, the memo shows.
“In the coming weeks, we will continue to evaluate the best and safest way to get the majority of our employees working in the office, recognizing that this step may take longer than we originally anticipated,” the bank said.
