Top Bankers Say YES To Twitter

Over 17,000 financial advisers from Morgan Stanley will be setting up Twitter and LinkedIn accounts in the next months, following a successful pilot run for 600 of its employees. It may seem unlikely for the banking industry to join the social networking trend, but a Twitter presence has proven to be a formidable tool to getting information around. A milestone Tweet by Goldman Sachs (@GoldmanSachs) in May, for instance, shows much of a positive vibe a bank can spread to its clients in under 140 characters. Goldman Sachs said: "Annual meeting is a wrap. Prelim votes show all directors elected with overwhelming support. Shareholders support GS on all proposals." Banking presence on the web doesn't mean everybody will be in on every movement within the companies, though. According to the Dealbook, all tweets from Morgan Stanley (@MorganStanley) will be pre-written to remain in compliance with securities guidelines and to avoid any negative backlash. Still, it will be good to know when an executive has been fired for fraud as it happens. When Goldman Sachs launched its Twitter feed in May, employees were prohibited from setting up their own Twitter accounts to avoid accidentally sharing confidential information. Let?s see where the increased employee count on this latest initiative leads.