Morgan Stanley announces launch of Institute for Inclusion

Morgan Stanley has announced the official launch of the Institute for Inclusion (IFI).

Funded by an initial commitment of $25 million from the firm, the IFI will create an integrated and transparent diversity, equity and inclusion strategy that will drive meaningful change within Morgan Stanley, and support underserved communities. The firm also announced the IFI’s Advisory Board, which will provide independent, expert perspective and constructive feedback to help shape internal and external efforts.

“Morgan Stanley is committed to supporting diversity, equity and inclusion in underserved communities as well as fostering a culture of belonging at the Firm,” stated James Gorman, Chairman and CEO, Morgan Stanley, and Chair of the Institute for Inclusion. “The Institute for Inclusion underscores that commitment by expanding the Firm’s internal strategy around Diversity and Inclusion, and also by expanding the work of our business and community outreach to eliminate barriers that prevent people of all racial, ethnic and gender identities from having equal opportunities.”

IFI’S KEY AIMS

The Institute’s three main aims include:

• Invest to advance economic outcomes in underserved communities through Morgan Stanley products, services, business practices, spending and thought leadership.
• Support underserved communities with philanthropy that strengthens underserved communities. This includes near-term focus on racial equity to address some of the gaps created by long-term systemic disenfranchisement.
• Support and advise on internal diversity and inclusion efforts to enable Morgan Stanley to become a leader in attracting, developing and retaining diverse talent, and enhance the culture of inclusion at the firm.

ADVISORY BOARD

Morgan Stanley has also created an advisory board of leaders with expertise in the education, business and nonprofit sectors to support the IFI’s mission. The advisory board is chaired and led by Morgan Stanley Chairman and CEO, James Gorman. The other members of the Board include:

• José Calderón, former President and CEO, Hispanic Federation
• Geoffrey Canada, President, Harlem Children’s Zone
• Elizabeth Corley, former CEO, Allianz Global Investors
• Vivian Hunt, Senior Partner, McKinsey & Company
• Lanaya Irvin, President, Coqual (formerly Center for Talent Innovation)
• Gita Johar, Vice Dean for Diversity, Equity and Inclusion, Columbia Business School
• Simone Marean, Co-Founder and Co-CEO, Girls Leadership
• Colonel Rich Morales, Army Officer and West Point Professor
• Perry M. Traquina, former Chairman and CEO, Wellington Management
• Rayford Wilkins, former CEO, Diversified Businesses of AT&T
• Kenji Yoshino, Director of NYU Center for Diversity, Inclusion and Belonging

Elizabeth Corley, Perry M. Traquina and Rayford Wilkins also serve on the Board of Directors of Morgan Stanley.

“We are honoured and excited to work with this distinguished group of professionals with impressive track records leading programmes that have had meaningful impact on communities,” commented Susan Reid, Global Head of Diversity and Inclusion, Morgan Stanley. “I look forward to their partnership and advice.” Check out Reid’s video on the rationale behind the Institute for Inclusion, by clicking here.