A piece of cake: Morgan Stanley charity bake auction beats its own fundraising record for Hong Kong’s Operation Santa Claus
- After week-long auction, the highest bid this year was HK$537,718 for a cake made by a senior bank employee
- In total, Morgan Stanley raised HK$5.3 million, breaking its 2020 record of HK$5 million
Multinational investment bank Morgan Stanley has broken its own fundraising records for an annual charity event with cake – lots of it.
Multi-tier fondant wonders, sugar-coated Christmas huts and elaborate cupcake towers are just some of the one-of-a-kind pieces that have gone under the hammer at Morgan Stanley’s annual bake auctions. The delicious event known for racking up sales of as much as HK$700,000 (US$89,750) per cake previously rang in its 10th anniversary this year.
This year marked the first Core Charities Bake-Off, with senior management making cakes at Morgan Stanley’s office with its three core charity partners – Integrated Brilliant Education, SLCO Community Resources and The Zubin Foundation.
After a week-long auction that began in late November, the highest bid this year was HK$537,718 for a cake made by a senior bank employee. In total, Morgan Stanley raised HK$5.3 million, breaking its 2020 record of HK$5 million. All funds raised will go to OSC.
For close to a century, the bank has been committed to philanthropic work focused on children’s health and education. It has raised more than HK$49 million for 300-plus charity projects under OSC in the past 25 years.
Integrated Brilliant Education and The Zubin Foundation support non-Chinese-speaking or ethnic minority groups, while SLCO Community Resources promotes sign bilingualism in communication and education.
“Giving back is one of our five core values, and whether in-person or virtually we will continue to engage employees through fundraising and volunteering,” said Gokul Laroia, Morgan Stanley’s co-CEO of Asia Pacific.