Employees of the Wall Street giant Morgan Stanley will not be allowed in New York offices unless they have been fully vaccinated against Covid.
The non-vaccinated employees are required to work remotely, according to a sources familiar with the matter.
Notice To All Employees
This policy will be in effect the following month as other Covid-related rules and regulations loosen.
Last week the head of the investment bank had encouraged the employees to get back to the office working norm.
Starting July 12 all employees, contingent workforce, clients and visitors will be required to attest to being fully vaccinated to access Morgan Stanley buildings in New York City and Westchester”, read an internal notice to the staffers.
‘Vaccine-Only’ Woskspaces
Currently, the policy is based on the honor system, but the bank may decide to mandate notice or proof of vaccination later on.
Morgan Stanley has already introduced the so-called “vaccine-only workspaces,” in a number of its departments, including institutional securities, and investment management.
Speaking at a conference, Mr Gorman said he would be “very disappointed” if US-based workers had not returned by September.
This is due to the fact that many of the banks have adopted a tough stance on working from home.
What Are Other Banks Doing?
Jamie Dimon, head of JP Morgan, the biggest U.S. bank, said recently that he wants the US based employees to get back to the office in July.
In the meantime, Goldman Sachs bankers were also asked to inform about their own health and vaccinations before they returned to their office tables earlier this month.
Barclays’ chief executive Jes Staley, said in February that working from home was “not sustainable”. At a virtual meeting of the World Economic Forum, he said: “It will increasingly be a challenge to maintain the culture and collaboration that these large financial institutions seek to have and should have.”
