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Morgan Stanley

Morgan Stanley Overview 

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management, wealth management and credit services. The Company's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 31 countries.

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Motivation

Its diversity strategy encompasses all diversity strands and is championed and endorsed by the senior leaders within the organisation. Since 2001 the company has focused on building an inclusive environment that understands the value of diversity and recognises and appreciates difference.  This has meant developing and implementing a wide range of diversity initiatives with full backing from senior management. Its strategy is founded on:

  • Advocacy: Commitment has been made by Senior Management, the European Diversity Council and Network sponsors to champion diversity at Morgan Stanley.
  • Awareness: Morgan Stanley raises employee awareness and understanding of diversity and its business drivers through firm-wide initiatives including Diversity & Work-life weeks and events sponsored by the Women’s First Choice Network and the organisation's other employee networks.
  • Education: Diversity training provides employees with a practical understanding of management, relationship, team and diversity issues and how effective handling of these issues is key to maximising their performance.
  • Engagement: Through the establishment of employee networks and divisional diversity initiatives, Morgan Stanley continues to build diversity commitment from the bottom up, working with the networks and business units to develop and implement diversity initiatives.
  • Networks include: Women’s First Choice (WFC), GLEAMS (Gay & Lesbian Employees at Morgan Stanley), Cultural Awareness (an umbrella network incorporating NetAsia, African & Caribbean and Net Eire) and Parents Network. In addition, the firm has a Disability Taskforce.

 Success in action

The firm's Women's First Choice (WFC) network is a prime example of the way it actively promotes female talent at Morgan Stanley.  Launched in 2003, the network now has almost 700 members from across all areas, divisions and levels. The network engages the organisation through their sophisticated and varied agenda, which includes the following: Annual women's conference - half day themed conference followed by a networking event. Themes delivered to date are "The Power of Networking", "Change - Make it Work for You" and "Secrets of Success". The conference includes guest speakers, topic debates and breakout sessions on topics of particular interest to women.  "WFC Cascade" programme - the programme aims to facilitate networking and informal mentoring for women in a structured manner. Managing Directors meet informally with Executive Director, and Executive Directors meet with Vice Presidents. The sessions are structured around either breakfast, lunch or evening drinks with a maximum of 5 people, plus the host, per session. These meetings will then cascade down the organisation so that all women are given the opportunity to participate. 

Impact 

The firm's commitment to diversity has had a positive impact upon attracting, developing and retaining  employees, as well as increasing its external reputation. Its focus upon gender diversity has resulted in a year-on-year increase in female applicants and hires to the organisation. In addition, its diversity initiatives have supported its women in achieving promotion at all levels. The firm has seen a notable decrease in turnover of women. Morgan Stanley has achieved a number of awards and accreditations as a result of its work on gender diversity including:(a) Opportunity Now benchmarking 2005/6 - Gold award(b) The Times/Aurora Top 50 Where Women Want to Work 2006(c) Ranked 3rd in The Sunday Times, Top 20 Best Big Companies, 2007  There has been a notable increase in the diversity representation of its employee mix which is evidenced through its workforce composition monitoring exercise conducted in 2006.