Morgan Stanley launches new nursery scheme in bid to be 'family friendly'

Morgan Stanley HQ

Morgan Stanley has launched a new childcare scheme for its employees in Canary Wharf, in a bid to become more "family friendly".

The bank has secured a number of places at two nurseries run by Bright Horizons, both located near to its office in Canary Wharf.

Although the nurseries are already used by many of the area's hard-working employees, this is the first scheme of its kind. Places will be given on a first-come first-served basis and will be paid for through a salary sacrifice programme.

Read more: Stop subjecting women to faulty gender pay gap stats

Tamsin Rowe, head of human resources in the Europe, Middle East and Africa region at Morgan Stanley, said the move was part of a big to become "family friendly".

"We are delighted to offer another resource to enable our employees to better balance work and family,” she said.

Lack of childcare and poor work life balance are two of the factors blamed for wide gender pay gaps in the UK's financial services, with women disproportionately dropping out of the workforce to look after families.

Morgan Stanley UK reported one of the biggest pay gaps of the City's investment banks earlier this year, with the average woman at the firm receiving a wage 35.2 per cent lower than men.

Goldman Sachs, which reported an even bigger pay gap, also offers childcare for employees through Bright Horizons with an onsite nursery in Holborn.

Read more: Childcare costs rise seven times faster than wages

Full story: Morgan Stanley launches new nursery scheme in bid to be 'family friendly': City A.M.

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