Morgan Stanley chief addresses US tragedy

US Special: Philip Purcell, chairman of Morgan Stanley, which employed some 3,500 people in the World Trade Centre complex, has spoken compassionately about yesterday’s tragedy, while seeking to reassure clients that the firm’s businesses are functioning normally.

Purcell commented: “We are all saddened and outraged by the attack on America today, and extend our deepest sympathies and prayers to all the people affected.
“Our key focus and concern are for the well-being and safety of Morgan Stanley employees. Some 3,500 people working for Morgan Stanley's individual investor businesses were based in the World Trade Centre complex. We are working diligently with local authorities, and we will keep you apprised of developments.”

A call centre has been established for employee-related safety concerns at (001) 888-883-4391.

Purcell added: “We want our clients to know today that in spite of this tragedy, all of our businesses are functioning and will continue to function. We are committed to resume full operations as exchanges and markets reopen. All our clients should rest assured that their assets are safe and our financial advisors will soon be in contact with our individual investors to answer questions and address their concerns.

The firm says institutional clients concerned about specific positions or operations should call their established contacts within the group.

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