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Morgan Stanley Says About 12% of U.S. Workers Back, More in Asia

  • ‘Office is important for mentoring, development,’ Gorman says
  • About 30% of workers back in Europe, 40% in Asia, CEO says
James Gorman
James GormanPhotographer: Giulia Marchi/Bloomberg

Morgan Stanley Chief Executive Officer James Gorman said 10% to 12% of its U.S. employees are back at the office, a far smaller portion than in Europe and Asia, and the Wall Street firm will be flexible with its work arrangements as the coronavirus pandemic lingers.

In Europe about 30% of staffers are back, and in Asia the figure is 40%, Gorman said Monday during the Securities Industry and Financial Markets Association’s annual meeting, held virtually this year. While there will be changes in where Morgan Stanley employees work, it’s “too early to say how that translates into our footprint” in terms of office space.