Younger expertise key to Morgan Stanley operations in Glasgow

Scotland’s dedication to the “youthful technology” has been a crucial issue within the development of one of many largest employers in Glasgow’s monetary providers sector, in keeping with one in all its senior executives.

Susan Reid, world head of expertise at Morgan Stanley, mentioned the funding banking large is “borrowing the good concepts” popping out of Glasgow and taking them again to its headquarters in New York and its community of places of work all through 40 nations. One instance is the 400-strong “younger professionals community” supported by the Glasgow HR group headed by Margaret Johnson.

Talking lately on her first go to to Glasgow, Ms Reid mentioned points round workforce variety are “common”. Although there are variations from nation to nation, options from one web site may be tailor-made and transferred elsewhere.

“In Glasgow, like in New York, we’re very centered on gender as one instance, and ensuring that we’ve sturdy gender illustration,” she mentioned. “In Glasgow, like in New York, we’re variety in different facets – ethnic variety and cultural variety.”

HeraldScotland: Susan Reid, global head of talent, Morgan StanleySusan Reid, world head of expertise, Morgan Stanley (Picture: Morgan Stanley)

Ms Reid additionally highlighted efforts backed by the Scottish Authorities to create totally different pathways for younger professionals to affix the workforce. Morgan Stanley expects to welcome 200 graduates and trainees to the Glasgow operation within the coming 12 months.

“We’re centered on that within the US however I feel the dedication round it appears actually important right here,” she mentioned. “I like that.”

Morgan Stanley arrange its Scottish workplace in 2000 with simply six individuals in Cumbernauld as a part of a technique to seek out further expertise exterior of London. The operation moved to Glasgow’s metropolis centre in 2002 with workers working in a single division offering back-end assist for funding buying and selling.

Now consolidated right into a single workplace inside the worldwide monetary providers district, Morgan Stanley Glasgow has 2,200 workers working throughout the group’s know-how, finance, fund providers, authorized and compliance, HR, company providers and inner audit divisions. Ms Johnsons mentioned development has been fed by the massive provide of expert graduates popping out of the town’s universities.

READ MORE: Morgan Stanley in Glasgow hiring spree

“If you happen to take a look at the Glasgow statistics across the quantity of people that keep within the metropolis post-university, it’s as excessive as London,” she mentioned. “The 2 cities are the strongest within the UK for these numbers, in order that gave the agency confidence that there would all the time be that expertise pool out there.”

Initially from Jamaica, Ms Reid immigrated to the US as a younger baby together with her household who had been searching for a greater life. After graduating from college she spent a decade in various recruitment and human assets roles earlier than she “discovered her manner” into funding banking on the onset of the monetary disaster in 2008, working in several components of Morgan Stanley earlier than taking the position of worldwide head of variety and inclusion (D&I) in 2013.

She organised a “uncooked and trustworthy” on-line session with colleagues following the 2020 homicide of George Floyd in Minneapolis. Greater than 5,000 of Morgan Stanley’s 80,000 workers took half.

“It was not solely significant for colleagues within the US,” Ms Reid mentioned. “I had tons of inbound emails from colleagues in Hong Kong and Japan and London who mentioned that resonates with me.”

READ MORE: US banking large reinforces its dedication to Scotland

She added: “We now have to think about the D&I work as evergreen. You might be actually not carried out, you’re by no means carried out.”

About 45 per cent of workers in Glasgow are feminine. Whereas the ethnic variety numbers are much less exact, Ms Reid mentioned indications are that illustration “is at the least on par if not higher” than the final inhabitants.

“The Glasgow workplace has an incredible quantity occurring from a expertise and a D&I perspective, so I used to be actually keen to return and spend a while with the management group and members of our worker networks,” she mentioned.

“As a part of my remit I like to make sure that I get out into places of work all over the world and get shut to what’s taking place on the bottom. One of many advantages is that you just get to see the problems from either side, so that you’re not sitting in a silo in New York making choices that will or might not work domestically.”

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