Morgan Stanley Places in Top 10 of America`s 50 Most Community-Minded Companies
Morgan Stanley Places in Top 10 of America’s 50 Most Community-Minded Companies
Firm Earns a Sixth-Place Ranking in the Inaugural Civic 50 Survey
Morgan Stanley was recognized as one of America’s 10 most community-minded companies in The Civic 50 survey – the first comprehensive ranking of S&P 500 corporations that best use their time, talent and resources to improve the quality of life in the communities where they do business. The survey, where Morgan Stanley ranked sixth overall, was conducted by the National Conference on Citizenship (NCoC) and Points of Light, the nation’s definitive experts on civic engagement, in partnership with Bloomberg LP.
“All over the world, our employees use their passion, knowledge and skills to support thousands of community organizations each year,” said Joan Steinberg, Managing Director and Global Head of Philanthropy at Morgan Stanley. “Giving back to the communities where we live and work is one of Morgan Stanley’s core values. We hope that the Civic 50 survey fosters additional discussion about the ways in which businesses can help local communities develop and prosper.”
In 2011, Morgan Stanley provided service and support to more than 12,000 community organizations, including more than $80 million in employee and Morgan Stanley donations and more than 21,000 employees volunteering during its Global Volunteer Month in June. The Firm’s civic engagement programs leverage employees’ talent and expertise and last year delivered more than 440,000 hours of volunteer service. These efforts include the annual Morgan Stanley Strategy Challenge, a pro bono consulting initiative that pairs top talent at the Firm with nonprofits to solve strategic issues.
Morgan Stanley also develops programs that enable employees to support relief efforts when natural disasters strike. In the wake of Hurricane Sandy, the Firm committed to match employees’ contributions to the American Red Cross up to the level of $2.5 million and pledged to donate a minimum of $1 million.
“Today, in the aftermath of Hurricane Sandy, we can see clearly how much corporate America pitches in – with expertise, talent, time and money – to help communities meet critical needs,” said Jackie Norris, executive director of the Points of Light Corporate Institute. “In times of disaster and in relative calm, The Civic 50’s work is transformative, innovative and critically important.”
Companies in the Civic 50 were evaluated on seven specific metrics: leadership, measurement and strategy, design, employee civic health, community partnerships, cause alignment and transparency. Winning companies employed increasingly sophisticated tools to measure the impact of community engagement and alignment of these programs with their business’ core competencies. More than two-thirds of the top 50 companies say they “frequently” or “always” use the professional skills of their workforce to address social issues and real community challenges. Sixty-six percent of the top 50 say they have “mission-level” alignment with the community partners, meaning they work with them on the highest strategic level, not just on individual programs or events.
“NCoC is proud to be part of The Civic 50 launch,” said Ilir Zherka, Executive Director of NCOC. “The Civic 50 demonstrates that the best companies in America are deeply committed to strengthening their respective communities. Leaders of these companies are aligning the expertise of their companies and people with the needs of their communities, and then measuring the impact of their programs. NCoC hopes The Civic 50 will spur companies throughout our country to do the same.”
“As a company committed to community engagement and improvement, Bloomberg is proud to have partnered with the National Conference on Citizenship and Points of Light on this important ranking," said Norman Pearlstine, Chairman, Bloomberg Businessweek and Chief Content Officer, Bloomberg LP. “The Civic 50 is a pioneering addition to the Bloomberg Rankings inventory. It features a comprehensive, transparent methodology to identify companies that have taken a leadership role in developing and implementing civic engagement programs. We believe it will raise awareness of the importance of a civic consciousness through the U.S. corporate world."
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 43 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
Matt Burkhard, 212-761-2444