Morgan Stanley Moving Some Workers Out Of NYC - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Morgan Stanley Moving Some Workers Out Of NYC

Business-continuity concerns and space needs pushed the firm to buy office space in the suburbs.

Financial-services firm Morgan Stanley Dean Witter & Co. is sealing plans to move some offices outside New York City following its loss of 1.2 million square feet when the World Trade Center fell.

The company says it has a preliminary agreement with ChevronTexaco Corp. to buy the former Texaco headquarters, in suburban Westchester County, N.Y. Only a small percentage of the company's 14,000 city-based employees will be relocating to the facility.

In addition to addressing Morgan Stanley's space needs, the site also will help with business-continuity requirements, the company says. In October, Morgan Stanley sold one of its midtown Manhattan buildings to rival Lehman Brothers Holdings Inc., which also had lost large amounts of office space when it was forced to evacuate the World Financial Center on Sept. 11.

The Texaco building was built in 1977, and Morgan Stanley says it will need renovations and technology upgrades before anyone moves in. The firm wouldn't disclose what, specifically, needs to be done.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Commentary
Who Should Own RPA?
Lisa Morgan, Freelance Writer,  2/18/2020
Commentary
IT Salary Report 2020: Get Paid What You Are Worth
Jessica Davis, Senior Editor, Enterprise Apps,  2/12/2020
Slideshows
10 Analytics and AI Startups You Should Know About
Cynthia Harvey, Freelance Journalist, InformationWeek,  2/19/2020
Register for InformationWeek Newsletters
Video
Current Issue
IT Careers: Tech Drives Constant Change
Advances in information technology and management concepts mean that IT professionals must update their skill sets, even their career goals on an almost yearly basis. In this IT Trend Report, experts share advice on how IT pros can keep up with this every-changing job market. Read it today!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll