Morgan Stanley pledges $2.5m to Superstorm Sandy relief effort
Morgan Stanley today announced that it has established a charitable giving effort to support people and communities impacted by Superstorm Sandy. The Firm will match every dollar of its employees' contributions to the American Red Cross's relief operations up to the level of $2.5 million, and it will make a minimum contribution to the Red Cross of $1 million.
Superstorm Sandy has wrought devastation in many of the communities where our colleagues, friends, families and clients live and work, said James Gorman, Chairman and Chief Executive Officer of Morgan Stanley. As a Firm, we must be part of the solution to the damage and hardship that has occurred, so we are encouraging our employees to contribute to Red Cross relief efforts. We commend the Red Cross for its vital work to help affected communities get back on track. Morgan Stanley is committed to supporting communities in need. The Firm also provides a yearly $250,000 gift to the Red Cross's Annual Disaster Giving Program, which releases immediate funds for short-term relief in all disaster situations.