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Why Morgan Stanley Hired WeWork and Gensler For a Big Millennial Makeover

October 10, 2018

Morgan Stanley is remodeling around 1.2 million square feet of office space, and its wealth management division will be the first beneficiary, according to Bloomberg.

The goal is to get Morgan Stanley’s technology professionals in closer proximity to its brokers, traders and bankers, Rob Rooney, the company’s head of technology, tells the news service.

After the overhaul of the wealth management offices, the company will renovate trading floors and offices for its investment banking and asset management units, Bloomberg writes.

The whole project, for which Morgan Stanley recruited co-working space provider WeWork and the architectural firm Gensler, is expected to last 15 months, according to the news service.

But it’s not just about uniting technology and finance professionals, Bloomberg writes. Part of the redesign aims for “a much more dynamic, millennial kind of workforce,” Rooney tells the news service.

“We’re trying to attract the next generation of the best and brightest,” he tells the news service.

(Getty)

In lower Manhattan, where demolition has already taken place, that means more open floor plans granting more employees views of the Hudson River and the Statue of Liberty previously only afforded to senior staff, Bloomberg writes. At the same time, the dress code at the new offices “is decidedly more casual,” according to the news service.

By Alex Padalka
  • To read the Bloomberg article cited in this story, click here.