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Morgan Stanley Increases Parental Leave to Woo Talent

  • Bank giving some workers option to buy stock at 10% discount
  • Will also boost maximum 401(k) match to 5% of eligible pay
Photographer: Michael Nagle/Bloomberg

Morgan Stanley made sweeping changes to its employee benefits including increasing parental leave and allowing some employees to buy its stock at a 10% discount amid intense competition for talent. 

The firm, flush with cash after a run of stellar profits, will give parents at least 16 weeks of paid leave -- a benefit that applies to births, adoptions, foster care or surrogacy, according to an internal memo obtained by Bloomberg.