Morgan Stanley Follows Suit with Hong Kong Covid Reimbursement

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.