NEW YORK — The investment world took time on Sept. 11 to remember those who were killed five years ago in the terrorist attacks.
Morgan Stanley, which lost 13 employees in the attacks on the World Trade Center, held a companywide moment of silence at 8:46 a.m. EDT, the moment five years earlier that the first plane struck the North Tower. The company also placed lilies near a plaque honoring the lost employees at the firm's offices at 1585 Broadway in Manhattan, said spokeswoman Andrea Slattery. It also provided flowers to employees in its Westchester County offices in Harrison, N.Y., to place at the firm's Memorial Garden there.
"Sept. 11 was a day of terrible tragedy and uncertainty for our firm, our industry and the world," said John Mack, chairman and CEO of Morgan Stanley, in a memo sent to employees this morning. "Yet, in its wake, the people of Morgan Stanley joined with the entire financial community and demonstrated extraordinary resilience and perseverance to get the financial markets up and running again. We vowed to come back, and, five years later, this firm and our industry are stronger than ever."
Legg Mason also held a moment of silence at 8:46 a.m. EDT, said spokeswoman Mary Athridge. The WTC offices of Citigroup Asset Management, which was acquired by Legg Mason last year, were destroyed in the attacks, although no employees were killed.
Fiduciary Trust Co. International and Franklin Templeton Investments held a joint interfaith memorial service Sunday at St. Bartholomew's Church in New York, which was attended by "several hundred" people, said spokesman William Weeks. Fiduciary Trust lost 86 employees in the attacks on the towers, and Franklin lost one employee.
Putnam Investments employees participated in remembrance ceremonies held by parent Marsh & McLennan Cos. Inc., according to Laura McNamara, Putnam spokeswoman. Putnam employee Lynn Goodchild was on United Flight 175, which crashed into the WTC.
The New York Stock Exchange held a moment of silence at 9:29 a.m. EDT, followed by the ringing of the opening bell by Bruce Logan, New York Downtown Hospital president and CEO. The hospital, located three blocks from Ground Zero, treated more than 1,500 patients injured in the attacks.
The New York Board of Trade and the New York Mercantile Exchange held a joint minute of silence at 11 a.m. EDT, followed by a longer ceremony at 3:30 p.m. on the NYBOT trading floor to pay tribute to the 30 people with ties to either NYBOT or NYMEX who were killed in the attack. Also, NYBOT will have artifacts from the site of the World Trade Center on display in the lobby of its offices all week, said NYBOT spokesman Guy Taylor.
The NYBOT's offices at 4 World Trade Center were destroyed in the attacks, and since then it has been renting space from NYMEX's headquarters in the World Financial Center, across the street from Ground Zero.
Fred Alger Management ran ads in newspapers and magazines, honoring the 35 employees of the firm who were killed in the attacks, said Zachary Karabell, senior vice president and portfolio manager. Fred Alger's office was located on the 93rd floor of the North Tower. Among those killed were David Alger, president and CIO of the firm who, with his brother Fred Alger, helped build the company.