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