Most OK, But “We’ve Lost Friends and Colleagues,” Purcell Says

Morgan Stanley Chairman Philip Purcell made this statement today in regards to Tuesday’s terrorist attack at the World Trade Center: “The shocking events of this week at the World Trade Center have not posed a financial problem for Morgan Stanley, but a deeply human one. What dominates our concerns are those people who may not have escaped the explosion and fires as the twin towers collapsed. “We

Morgan Stanley Chairman Philip Purcell made this statement today in regards to Tuesday’s terrorist attack at the World Trade Center:

“The shocking events of this week at the World Trade Center have not posed a financial problem for Morgan Stanley, but a deeply human one. What dominates our concerns are those people who may not have escaped the explosion and fires as the twin towers collapsed.

“We can report that we have been in touch with most of the people who worked for us at the World Trade Center complex. But a number are still unaccounted for, and it is clear that we have lost friends and colleagues. Our thoughts and prayers are with the families and friends of those who died or are still missing, and these people remain the immediate focus of the firm.

“We are working diligently with local authorities, and we will keep you apprised of developments. A call center has been established at 888/883-4391 for anyone with information about those who were working in the World Trade Center, or may have been there on a visit.

“Fortunately, the U.S. and global financial systems are highly resilient, and this firm is resilient as well. In the last two days, people in our firm, like so many in the city, have demonstrated great character and courage, even heroism. We are deeply grateful to all those who have risen in the face of these challenges to give the best of themselves, and we appreciate their efforts to get on with the demands of their daily lives despite grievous challenges.

“Markets have been relatively quiet and subdued in the wake of the disaster. We want our clients to know today that in spite of the tragedies, all of our businesses are functioning and will continue to function.

“We will resume full operations as exchanges and markets reopen. All our clients should rest assured that their assets are safe and our financial advisers are hard at work contacting our individual investors to answer questions and address their concerns. “Institutional clients concerned about specific positions or operations should call their established contacts.”

Editor's note: For any comments regarding this article, or to suggest a story idea for RR Online or Registered Representative magazine, contact Editor in Chief Dan Jamieson at [email protected], Online Editor Rick Weinberg at [email protected], Online Managing Editor Cheryl Cooper at [email protected] or Senior Editor Michael Hayes at [email protected]

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