Yesterday Morgan Stanley’s chief legal officer sent a memo to the firm’s staff to tell them to stop leaking info to the press.
Like what? Presumably, Morgan Stanley’s been doing ok since it closed its Mitsubishi deal last month.
Maybe that’s because no one’s been passing on info about trouble at the firm…
Nonetheless, that didn’t stop someone from sending British financial news site Here Is The City the following copy of the memo:
To: All Employees
From: Gary G. Lynch
As you all know, the Firm views open, honest and robust exchange of information as essential to our business. With this in mind, senior management provides information to all employees about significant developments at the Firm through internal memos and e-mails, and by holding Open Forums where John Mack and other members of senior management are available to answer your questions.
At the Open Forums, we have repeatedly asked that you treat this information as confidential and meant for our employees only, and the memos and e-mails from management are clearly marked for ‘internal use only’. Similarly, the Firm’s Code of Conduct prohibits disclosure to third parties of confidential ‘internal use only’ communications.
Yet despite these clear directions, these communications are making their way outside the Firm. Based on a recent review of outgoing e-mail, it was disappointing to see how often our employees ignore their obligations to keep internal Firm matters within the Firm. While we understand the impulse that led some of you to pass on these communications to your spouses or partners, a distressing number of employees have distributed this information to a far broader range of individuals.
Candid and full communications with employees is vital to our future success, but the quality of that communications depends on you. We therefore renew the request that you respect the policies on internal communications and make every effort to keep the information shared with you within the Firm.
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