Morgan Stanley is the latest Wall Street lender to provide reimbursements for Hong Kong staff traveling to visit immediate family, outdoing J.P. Morgan’s recently announced Covid benefits by $100.
Morgan Stanley will provide a one-time reimbursement to Hong Kong staff of up to HK$40,000 ($5,100) for quarantine stays when returning to the city, according to a report citing an internal memo.
The reimbursement will apply to those returning from travels to see immediate family between December 1 this year and November 30 next year.
The reimbursement plans come days after a similar move by Wall Street rival J.P. Morgan announced after a 32-hour visit to Hong Kong by chief executive Jamie Dimon which included a rare exemption from the city’s strict quarantine rules.
We recognize that the costly quarantine measures in place in Hong Kong associated with Covid-19 have impacted many of you with respect to visiting family and loved ones overseas, according to a memo from J.P. Morgan which offered a one-time reimbursement of up to $4,000 – $100 less than Morgan Stanley.