Morgan Stanley chief executive James Gorman said: "If you can go into a restaurant in New York City, you can come into the office." Speaking

'If you can eat out, you can go to the office', says bank boss

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2021-06-15 22:00:12

Morgan Stanley chief executive James Gorman said: "If you can go into a restaurant in New York City, you can come into the office."

Speaking at a conference, Mr Gorman said he would be "very disappointed" if US-based workers had not returned by September.

Jamie Dimon, the boss of America's biggest bank JP Morgan, recently said he wanted US staff back in the office from July. Meanwhile Goldman Sachs bankers were instructed to report their vaccine status ahead of returning to their desks this week.

Mr Gorman said on Monday that Morgan Stanley is not yet setting a minimum number of days that US staff will be required to be on-site.

"Make no mistake about it. We do our work inside Morgan Stanley offices, and that's where we teach, that's where our interns learn, that's how we develop people," he said.

He added that during the pandemic the bank's operations had become more flexible. But he was resistant to the idea of employees working out-of-state: "If you want to get paid New York rates, you work in New York," he said.

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