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Morgan Stanley donates to Heim Pál

This year, Morgan Stanley Hungary has decided to offer donations, collected through its traditional dragon boat race, to Heim Pál Childrenʼs Hospital, according to a press release sent to the Budapest Business Journal.

A picture from this yearʼs race.

In June, Morgan Stanleyʼs nearly 2,000 employees in Hungary are free to do charity work during their regular office hours. The opening event of the charity program is always the dragon boat race, with profits from the event going to Heim Pál Childrenʼs Hospital this year.

"Just as in the case of our company, where excellent teamwork is indispensable, the winners in this sport will be those who are most able to work together united, in synch, and supporting each other," says Norbert Fogarasi, head of Morgan Stanleyʼs Budapest office.

"The dragon boat race is about collecting donations. Every boat represents a department: IT professionals, mathematicians, risk analysts, and financial experts are rowing alike."

He explained that Morgan Stanleyʼs colleagues support their own boat with a donation, and the foundation of the company will double the donations collected for the hospital.

"We are proud that 95% of our colleagues in the companyʼs Budapest innovation and technology center are involved in charitable activities."

During the event, competitors dress up in a thematic costume, and the boats are led by department directors, also in costume.

According to the press release, Morgan Stanley supports a number of programs all year which have social or educational aims, calling it the "giving back" philosophy. 

"According to estimates, there will be a million new IT jobs in Europe next year," Fogarasi explains.

"In Hungary alone, there are more than 20,000 IT specialists who are missing, while only a very few women pick this career course. Therefore we support numerous programs that try to change this. One of them is the initiative called ʼSmartizʼ by Morgan Stanley and NaTE [Women in Science Association]. With the program, high school girls could take part in mathematical and programming activities. Naturally, the goal is to make mathematics-based branches of science, such as IT, more appealing for girls too" he adds.