New York-based financial group Morgan Stanley continues to invest in the information technology centre that it opened in Montréal in 2008. The facility now has almost 1,000 employees, twice as many as initially projected when the centre was first set up.
According to Alan Vesprini, Managing Director of the Montréal Technology and Engineering Centre, its expansion is likely to continue because of the centre’s excellent reputation within the Morgan Stanley group. “That reputation goes far beyond the initial benefits associated with Québec’s affordable labour costs and tax credits on IT development jobs,” he explained in an interview published on November 21 on La Presse +.
In fact, despite the company’s plans to cut US$1 billion in costs, the Montréal centre recently expanded its offices in Old Montréal. “We brought in 300 new workstations in mid-2016,” said Vesprini. “We’re hiring 10 to 15 people a week, and we currently have about 60 positions to fill in project development and management in just about every Morgan Stanley sector of activity.”
With a little over 300 employees at the time of its first expansion in fall 2010, the Montreal technology centre is now the largest centre of its kind in Morgan Stanley’s global network. “Our growth is not measured solely by the number of new positions approved by company management, but also by the growing importance and complexity of the projects and mandates we’re being assigned,” added Vesprini.
The Montréal technology centre is working on a range of projects for the group’s business units. Many of them involve the global telematics system that connects all Morgan Stanley establishments across 43 countries. Others involve such areas as platform improvements for brokers operating in financial markets, and financial services and accounts receivable management apps that run online or on mobile devices.
About Morgan Stanley
With over 55,000 employees, Morgan Stanley provides financial and trading services to businesses, governments, institutional investors and high-wealth individuals. Its head office is in New York City.