Morgan Stanley Launches Initiative to Advance Equity in Education and Career Outcomes for Underrepresented Groups

Rhea-AI Summary

Morgan Stanley (NYSE: MS) announced a $20 million commitment over the next five years to launch the Equity in Education and Career Consortium. This initiative aims to impact over 30,000 low-to-moderate income students globally, focusing on enhancing educational and career outcomes for ethnically diverse youth. The consortium collaborates with six nonprofit organizations to provide mentorship, training, and support, addressing systemic inequities in education.

Positive

• Commitment of $20 million over five years to support educational initiatives.
• Direct impact on over 30,000 low-to-moderate income students worldwide.
• Collaboration with reputable nonprofit organizations enhances program credibility.

Negative

• None.

• With $20 million committed over the next 5 years, the Equity in Education and Career Consortium will impact more than 30,000 low-to-moderate income students globally by supporting pathways to college and career success

• The consortium includes partnerships with six prominent nonprofit organizations: A Better Chance, America Needs You, Braven, Hispanic Federation, iMentor and SEO

NEW YORK--(BUSINESS WIRE)-- Morgan Stanley today announced the launch of the Institute for Inclusion’s (IFI) Equity in Education and Career Consortium. Through collaboration with partner organizations, this initiative will support high school and college students so they can achieve stronger career and financial outcomes. Funded by an initial commitment of $20 million, this initiative will help address systemic inequities in education and career outcomes for young adults from low-to-moderate income backgrounds with a focus on ethnically diverse students.

“With the launch of the Institute for Inclusion in 2020, we reaffirmed our commitment to help drive stronger economic outcomes for underserved groups,” said James P. Gorman, Chairman and CEO, Morgan Stanley, and Chair of the Morgan Stanley Institute for Inclusion. “Knowing that access to education is vital in addressing economic inequalities, investments such as the Equity in Education and Careers Consortium represent actions we can take to help make an impact for students from low-to-moderate income backgrounds."

In partnership with the Morgan Stanley Foundation, the initiative convenes a consortium of partners with proven track records and a high standard of excellence in supporting students in achieving stronger education and career outcomes. The partners primarily serve low-to-moderate income high school and college students in the U.S., many of which are the first generation in their families to attend college. The initial group of partners includes:

• A Better Chance (ABC)
• America Needs You (ANY)
• Braven
• Hispanic Federation
• iMentor
• SEO

“We are investing in solutions that drive greater access to education and social mobility more broadly and have meaningful impact on communities,” said Susan Reid, Global Head of Diversity and Inclusion, Morgan Stanley, and Director of the Morgan Stanley Institute for Inclusion. “We believe this investment will help address racial inequities and drive stronger financial outcomes in the long run for these students and their families.”

The objectives of the Equity in Education and Career Consortium focus on awareness, access, and advancement. The consortium aims to expose students to career paths and opportunities that may not be visible in their communities; broaden students’ skills and networks through training, mentorship and coaching; and create a support system for students throughout their educational and career journeys.

“Supporting diverse communities and young people of color has been a long-standing commitment for the Morgan Stanley Foundation,” said Joan Steinberg, Global Head of Philanthropy and President of the Morgan Stanley Foundation. “We are excited to partner with the Institute for Inclusion to advance the cause of equity and inclusion in tangible ways through investments in targeted programmatic efforts with strategic community partners.”

The Equity in Education and Career Consortium is the Morgan Stanley Institute for Inclusion’s marquee philanthropic initiative to help advance equity in education and careers for diverse communities. This latest effort joins the Firm’s portfolio of offerings aimed at driving greater outcomes for underserved communities, including the Morgan Stanley HBCU Scholars Program, which provides full scholarships to students at three prominent historically Black colleges, and the Morgan Stanley Future Generation Scholars program in the U.K.. Additional global partners will be announced as the program is rolled out.

The Morgan Stanley Institute for Inclusion, together with our overall commitment to Diversity and Inclusion, brings our employees, communities and clients together in a shared commitment to creating a more equitable society. The Institute for Inclusion aims to catalyze and accelerate an integrated and transparent diversity, equity, and inclusion strategy to deliver the full potential of Morgan Stanley and drive meaningful change within the Firm and beyond.

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211220005596/en/

Media Relations:

Gaston Terrones Dimant: Gaston.Terrones.Dimant@morganstanley.com

Katherine Stueber: Katherine.Stueber@morganstanley.com

Source: Morgan Stanley

FAQ

What is the Equity in Education and Career Consortium announced by Morgan Stanley?

It is a $20 million initiative aimed at supporting over 30,000 low-to-moderate income students globally to improve their educational and career outcomes.

How much funding has Morgan Stanley committed to the new education initiative?

Morgan Stanley has committed $20 million over the next five years.

Which organizations are partnering with Morgan Stanley in this initiative?

The consortium includes A Better Chance, America Needs You, Braven, Hispanic Federation, iMentor, and SEO.

What is the target demographic for the Equity in Education and Career Consortium?

The initiative primarily targets ethnically diverse students from low-to-moderate income backgrounds.

When was the Equity in Education and Career Consortium launched?

The consortium was launched as part of Morgan Stanley's announcement on December 20, 2021.