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Morgan Stanley CEO James Gorman sent a memo to staff on Sunday in response to President Donald Trump’s immigration ban.
Trump on Friday signed an executive order barring people from seven majority-Muslim countries – Iraq, Iran, Libya, Somalia, Sudan, Syria, and Yemen – from entering the US. The order originally included US green-card holders, but the White House later exempted them from the ban.
Gorman said no Morgan Stanley employees had been affected by the ban to date.
“We are concerned for those individuals and their families who could be impacted and will provide them support as needed,” Gorman wrote.
“Continuing to draw on talent from across the globe is a key element of Morgan Stanley’s culture.”
Gorman immigrated to the US from Australia for graduate school and became a US citizen in time for the 2004 election.
Here’s the memo:
“We are closely monitoring developments around the new U.S. travel restrictions imposed this weekend. While no individual employees were impacted in their travel to date, we are concerned for those individuals and their families who could be impacted and will provide them support as needed.
Any employee who has questions about upcoming travel should contact the Global Travel and Security teams at [+++++++]
We value immensely the contribution of all our employees from all over the world. Continuing to draw on talent from across the globe is a key element of Morgan Stanley’s culture and ultimately to our success in serving our clients.”
Gorman is not the only Wall Street executive to have addressed the immigration ban since Sunday.
Goldman Sachs CEO Lloyd Blankfein left a voicemail for all staff saying, “This is not a policy we support,” while JPMorgan’s operating committee, which includes Dimon, sent a memo to employees expressing its “unwavering commitment” to staff.