Morgan Stanley bans unvaccinated staffers from offices

It’s not easy to get inside Morgan Stanley. For those who aren’t immunized against Covid, it will soon be impossible.

Starting July 12, the elite investment bank will only allow people who have been fully vaccinated to enter its New York offices, according to an internal memo reported by the Financial Times.

Visitors and employees will be taken at their word rather than needing to verify their vaccination status, but that could change, the publication noted. Investment megafirm BlackRock made a similar announcement last week, while Bank of America plans to call vaccinated staffers back to their offices after Labor Day and will come up with a plan for its unvaccinated employees later.

The Equal Employment Opportunity Commission in December gave employers the green light to bar unvaccinated employees from workplaces and updated its guidance in late May.

Vaccination will free Morgan Stanley staff and visitors of the need to wear masks, social-distance or undergo daily health checks, the memo said. The company had previously set aside some space for vaccinated people only.

Since vaccinations began five months ago, infection rates in New York have been whittled down to nearly nothing, with less than 0.4 percent of tests now coming back positive — even as the number of daily tests has plummeted. It is the lowest rate in the nation and a key figure for office and retail landlords, who are banking on pandemic shutdowns becoming a thing of the past.

[FT] — Erik Engquist