|   Business


  |   Business


Morgan Stanley will ban unvaccinated employees and clients from its offices in New York: Report

Photo by: JiahuiH/Flickr (CC BY-SA 2.0)

Morgan Stanley reportedly imposed a new rule for its staff and clients regarding COVID-19 vaccination. It was said that the financial and investment bank will not be accepting anyone who has not been inoculated yet.

The internal memo about the vaccine jab

This means that Morgan Stanley is barring unvaccinated people from its premises or offices in New York and Westchester County. The company will only allow the entry of fully vaccinated individuals so it is important for people to bring their vaccination cards if they have to do business with the bank.

Based on the report, Morgan Stanley made the announcement about this new rule by posting an internal memo. As per Reuters, the note mentioned the implementation of "vaccine-only" workspaces for some of its units, such as the institutional securities and wealth management.

It was added that the new policy at Morgan Stanley is set to take effect on July 12. For employees who fail to get their COVID-19 jabs before this date, they will ultimately lose their permission to enter the company’s building in the said locations.

Staff returning to office-based work arrangement

CNBC reported that a large number of Morgan Stanley’s staff are returning to work in the company’s offices but as said before, only fully vaccinated individuals are allowed to enter the building. Thus, all the workers are required to confirm their coronavirus vaccination status by July 1, 11 days before they return to work.

It was said that those who are not yet fully vaccinated will have to continue working at home. The publication stated that Morgan Stanley implemented the rule so the staff could freely work around the office without face masks and social distancing requirements.

The same protocol is said to have also been implemented in other financial institutions such as Blackstone and Goldman Sachs. In any case, prior to releasing the new memo to employees, Morgan Stanley only required staff from certain units in the office to be fully vaccinated, but now it is requiring everyone. Finally, it should be noted that the bank clients must also follow this rule starting July 12.

  • Market Data

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.