Wall Street coronavirus contingency plans - the state of play

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Wall Street coronavirus contingency plans - the state of play
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As the coronavirus spreads in the financial hub of New York, financial firms – l...

- As the coronavirus spreads in the financial hub of New York, financial firms – led by the Securities Industry and Financial Markets Association – have triggered their contingency plans and are taking other precautions. As of Sunday, here is the state of play:

Last week, JPMorgan Chase & Co was the first bank to activate contingency plans and split its U.S. sales and trading staff between New York and secondary sites in New Jersey. Morgan Stanley is also shifting part of its New York-based sales and trading staff to its sites near Westchester County, New York, as well as having some teams work from home starting on Monday, Reuters reported last week.

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