22/07/2024 8:47 AM


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Morgan Stanley plans to hold annual meeting in person

FILE PHOTO: People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. REUTERS/Brendan McDermid

(Reuters) – Morgan Stanley (MS.N) plans to hold in person its annual shareholder meeting, scheduled for May 21, the Wall Street bank said on Friday, even as many companies have moved their meetings online amid the novel coronavirus outbreak.

The company said in the event it is not possible or advisable to hold the meeting at its Westchester headquarters in New York, it will announce alternative arrangements which may include holding a virtual meeting.

“We are actively monitoring the evolving coronavirus (COVID-19). We are focused on the safety and well-being of our shareholders and employees as well as the protocols of local, state and federal governments,” the bank said here in a filing.

Citigroup Inc (C.N) said on Tuesday it would postpone its 2020 investor day that was scheduled to take place on May 13 due to the pandemic.

The pandemic also forced Warren Buffett to cancel Berkshire Hathaway Inc’s (BRKa.N) annual shareholder weekend, the largest gathering in corporate America and called “Woodstock for Capitalists” by the billionaire chairman.

Other U.S. companies have also moved their annual shareholder meetings online or postponed plans, including Starbucks Corp (SBUX.O), known for attracting big crowds with free coffee in Seattle.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Aditya Soni and Sriraj Kalluvila

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