Morgan Stanley Chief Executive James Gorman joined other finance industry leaders in warning that operations won’t be fully back to normal this year.
“We are working on a series of programs to provide a safe environment for our employees to come back,” Gorman said at the firm’s virtual shareholder meeting. “Under no circumstance will the employees be forced to come back in 2020 to their desk when they have any concern or fear over their health and safety.”
He said that he expects closer to 50% of employees back in offices by the end of the year. That figure has varied significantly across the firm’s global locations.
While Morgan Stanley still has more than 90% of employees working from home, almost half the workers in Hong Kong are back. It’s a “very, very, very small number” in New York City, Gorman said.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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