Banking on Morgan Stanley
More winning: The company will not be using any outside groups or ideological litmus tests for charitable match program.
I’m pleased to share an encouraging update from our corporate engagement work with Morgan Stanley. In a year when many companies have approached shareholder concerns defensively, Morgan Stanley has been a standout example of professionalism, openness, and constructive dialogue.
From the beginning, their leadership engaged with seriousness and respect. They listened carefully, asked insightful questions, and consistently demonstrated a genuine willingness to understand how issues of neutrality and religious inclusion affect employees, customers, and shareholders alike.
That approach led to real, positive outcomes:
Morgan Stanley has affirmed and publicly recognized its faith‑based employee groups, giving them the same visibility and legitimacy as other ERGs.
The company confirmed that its charitable matching program is open to qualified religious nonprofits on the same terms as all others.
And importantly, the company has stated that it does not impose any limits on public 501(c)(3) charities which U.S. employees may choose on their own to volunteer or make a donation and may be eligible for a company match.
Morgan Stanley also welcomed ongoing annual conversations with us to ensure that these commitments are implemented faithfully and remain durable over time.
These steps reflect exactly the kind of engagement we aim to encourage across corporate America: mutual respect, genuine listening, and solutions that strengthen neutrality and reduce risk.
Because of the consistently constructive, open‑minded posture Morgan Stanley has shown, we are taking a step we reserve for only a very small number of companies:
Next year, we will not use the shareholder‑proposal process with Morgan Stanley.
Instead, we will simply reach out for direct discussion—because they have earned our trust that such dialogue will continue in good faith.
Jerry Bowyer is President of Bowyer Research.