Morgan Stanley’s top executives moved Friday to quell rumours the Wall Street firm would move employees from its UK offices in the wake of that country’s historic vote to exit the European Union.

"Despite inaccurate media reports, we have no plans in place to move staff out of the UK and will only consider adjustments to our operating model in [Europe, the Middle East and Africa] as the full impact of the referendum outcome becomes more clear over the course of the next two years," James Gorman, the firm's chairman and chief executive, and Colm Kelleher, its president, wrote in a memorandum to employees.