Morgan Stanley chief executive James Gorman said that around 80% of its employees' work will be done within its offices, but insisted that the bank would use Covid-19 as an opportunity to introduce more flexible working.

Gorman, whose strong comments in June suggested that Morgan Stanley was poised for a widespread return to the office even as some rivals are introducing hybrid working, said during the bank's earnings call that "in certain circumstances, having people working from home makes great sense".