The Real Deal New York

Morgan Stanley’s offices are getting a millennial makeover

Bank is overhauling 1.2M sf of office space
October 14, 2018 11:00AM

An illustration of millennials and the Morgan Stanley offices at 1585 Broadway (Credit: Highland Associates and iStock)

Morgan Stanley is revamping its offices to bring techies and brokers closer — and to attract millennials.

Over the next 15 months, roughly 1.2 million square feet of the bank’s office space will get a makeover, Bloomberg reported. The changes come as the bank builds up its focus on blockchain, automation and other technologies. The renovations will bring the company’s technology experts in closer proximity to its brokers.

“The workplace needed to be designed around a much more dynamic, millennial kind of workforce,” said Rob Rooney, Morgan Stanley’s head of technology. “We’re trying to attract the next generation of the best and brightest.”

The company’s office in Lower Manhattan has already been converted into an open-office format as part of its coordinated overhaul dubbed “Workplace Evolution,” which was approved internally in March. The bank also plans to renovate its headquarters at 1585 Broadway.

In addition to the renovations in New York, the bank has also rolled out changes to its offices in Chicago, Houston, Frankfurt, Glasgow, Budapest, London, Mumbai and Bangalore. [Bloomberg] — Kathryn Brenzel