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Article: Morgan Stanley's rendition of 'I love New York' hits sour note in Stamford. (Morgan Stanley Group Inc. chooses to stay in New York, New York; Stamford, Connecticut)
- Article from:
- Fairfield County Business Journal
- Article date:
- October 26, 1992
- Author:
CopyrightCOPYRIGHT 1992 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- After months of soul-searching, Morgan Stanley Group Inc. reached a decision on where it wants to be for the next decade, and it was bad news for Connecticut.
The financial services giant announced at an Oct. 19 press conference that it will stay in New York, spurning an incentive package from Connecticut reportedly worth more than $100 million.
Morgan Stanley and its 4,100 employees will remain in Manhattan and Brooklyn in exchange for $39.2 million of incentives from New York City and New York state. The agreement calls for Morgan Stanley to keep its U.S. headquarters in New York for the next decade.
The decision hit a sour, but not ...