Morgan Stanley on firm’s future: “Much less real estate”

In a terrible economy, Morgan Stanley CEO James Gorman appears to have found a silver lining. “We’ve proven we can operate with effectively no footprint,” Gorman told Bloomberg Television in an interview Thursday. The $60 billion investment bank has moved about 90 percent of its 80,000 employees to a work-from-home model, a process Gorman said had been surprisingly smooth. “That tells you an enormous amount about where people need to be physically,” he said. After

source https://therealdeal.com/2020/04/17/morgan-stanley-on-firms-future-much-less-real-estate/