Morgan Stanley Chief Executive James Gorman has been so moved by the protests that have gripped New York City that he’s shaking things up at his firm, he said Tuesday.

In an internal e-mail shared on LinkedIn, Gorman, 61, wrote that the death of George Floyd at the hands of Minneapolis police and the ensuing global outrage has pushed him to promote two black women at the $895 billion bank, create a new $25 million institution inside Morgan Stanley dedicated to diversity and donate $5 million to the NAACP.

“This week will not be easily forgotten in history, and it shouldn’t be. God-willing, it will be seen as a turning point in race relations,” Gorman wrote. “The pain, fear, sadness and anger felt by the black community, and also by the vast majority of people globally, is palpable.”

Gorman has promoted Carol Greene-Vincent, Morgan Stanley’s head of internal audit, to the firm’s operating committee, making her the first and only black member of that powerful executive panel that helps run the brokerage and Wall Street bank. Gorman had planned for Greene-Vincent to join the committee in December, but has fast-tracked her appointment to June 30, he said.

He also named the firm’s global head of diversity and inclusion, Susan Reid, to the bank’s management committee, which also helps to steer the company’s business.

Gorman has also tapped Reid to build Morgan Stanley’s new Institute of Inclusion group to promote diversity within Morgan Stanley, which he will chair.

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Morgan Stanley is also donating $5 million to the NAACP’s legal defense fund, and will match dollar-for-dollar any employee donations.

The Wall Street CEO, who won his own battle with COVID-19 in April, said the NYC protests have been emotional but peaceful adding, “I know because I have witnessed it first hand, three times this week, most recently late yesterday as 20,000 protestors marched past my block in Manhattan.”

According to records, Gorman was referring to the protests in Noho, where he resides in a $7.4 million condo.

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