Finance

Morgan Stanley staff must be vaccinated before return to the office

Morgan Stanley has told its employees they must get Covid-19 vaccines before returning to its New York offices.

Staff are required to disclose their vaccination status to the bank by July 1, the Wall Street firm said in a memo to employees. Starting July 12, employees, contingent workers, clients and visitors will be required to confirm that they were vaccinated before entering Morgan Stanley buildings in New York City and Westchester County.

Unvaccinated employees will work remotely, a person familiar with the matter said. At a conference last week, Chief Executive James Gorman said that well over 90% of employees in its offices were vaccinated.

Companies are pressuring employees to get vaccinated before their offices fully reopen, but few have gone so far as to require it. The Equal Employment Opportunity Commission last month said US employers can require staffers entering a workplace to be vaccinated against Covid-19, although they must accommodate those who are unvaccinated for disability or religious reasons.

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Getting workers vaccinated is especially important to Wall Street firms eager to end the work-from-home era.

JPMorgan told employees on 23 June they must log into its vaccine-tracker tool by June 30, though they can decline to say if they have been vaccinated. Unvaccinated employees and those who refuse to disclose their status are required to come to the office but must wear masks, observe social-distancing rules and complete a daily health questionnaire.

“In the future, we may mandate that all employees receive a Covid-19 vaccination consistent with legal requirements and medical or religious accommodations,” the bank said.

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Goldman Sachs, which has brought thousands of employees back to its Manhattan headquarters, is requiring US employees to disclose whether they have received a Covid-19 vaccine. Wells Fargo has asked employees to voluntarily register their vaccination status. Employees are expected to return to the bank’s offices after Labor Day.

Gorman said he expects a small percentage of Morgan Stanley staffers to eschew vaccines for health or religious reasons. “We’ll deal with that when we get there,” he said at the conference. “Right now, I’m focused on the 98%, not the 1% or 2%.”

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Write to Peter Rudegeair at [email protected]

This article was published by Dow Jones Newswires

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