Morgan Stanley (E-Trade)
Corporate Bias Rating
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Risk Level:
Summary:
Morgan Stanley, an investment bank and wealth management firm, will not fund some oil and gas projects or certain businesses dealing with firearms or ammunition. In July 2022, West Virginia placed Morgan Stanley on its Restricted Financial Institutions List for its “boycott of energy companies” according to its ESG policies and publicly available statements. Morgan Stanley scored a 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with Human Rights Campaign’s controversial demands, Morgan Stanley increases the risk of dividing employees, alienating customers and harming shareholders. The company provides a benefits package for employees which covers travel/lodging costs for an abortion and transgender medical procedures for covered employees and dependents, including children. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Morgan Stanley forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. Morgan Stanley's CEO signed the CEO Action for Diversity and Inclusion pledge and its Executive Chairman signed Catalyst's Champions for Change pledge. The company is a signatory of the Gender & Diversity KPI Alliance. Morgan Stanley is a platinum partner of the Human Rights Campaign (HRC) and a corporate partner of the National LGBT Chamber of Commerce (NGLCC). America First Legal filed a letter with the EEOC requesting a civil rights investigation into Morgan Stanley over discriminatory practices in intern recruitment. The company is part of Glasgow's Net Zero Alliance, committed to carbon neutrality by 2050, and a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism over traditional shareholder obligations. Morgan Stanley signed an amicus brief in opposition to the 2016 North Carolina bathroom bill HB2, which required people to use the bathroom of their biological sex. The company is a member of the MCCA, indicating its focus on recruiting, retaining, and promoting employees based on race. Morgan Stanley is a Corporate Member of the Mid-America LGBT Chamber of Commerce. The company is a signatory to the CFA Institute’s Diversity, Equity, and Inclusion Code, indicating its support of DEI in its recruitment, hiring, onboarding, and promotions. Morgan Stanley discriminates against religious organizations in its charitable giving and has donated to the Equality PAC. For these reasons, Morgan Stanley receives a High Risk rating. This rating applies to E*Trade, a subsidiary of Morgan Stanley.
Board Bias
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CEO of Morgan Stanley (E-Trade)
James P. Gorman
Summary:
Headquartered in New York, New York, Morgan Stanley (E-Trade) is a member of the Fortune 250 operating in the Banks industry. James P. Gorman and James P. Gorman serve as CEO/President and Chairman, respectively, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $62,200 to Republican causes and $100,000 to Democratic causes. Under their tenure, Morgan Stanley (E-Trade) currently holds a 'High Risk' risk rating.
Political Contributions of Leadership:
$62,200
$100,000
Republican
Democrat
Shareholder Proposals
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Date | ESG Category | Proponent | Summary of Resolution | Mgmt Rec | Total Vote % in Favor |
---|---|---|---|---|---|
5/19/23 | Governance | John Chevedden | Shareholder Right to Call a Special Shareholder Meeting | Against | 25.20% |
5/19/23 | Environmental | The Sierra Club Foundation | Policy to Cease Financing New Fossil Fuel Development | Against | 4.80% |
5/26/22 | Social | Sierra Club Foundation | Adopt Fossil Fuel Lending and Underwriting Policy Consistent with IEA's Net-zero 2050 Scenario | Against | 8.38% |
In the News
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Bank of America (Merrill Lynch) , Citigroup , Goldman Sachs , JPMorgan Chase , Morgan Stanley (E-Trade) , Wells Fargo