JP Morgan moves London staff amid coronavirus outbreak
JP Morgan is sending some employees to backup locations to reduce disruptions if employees are exposed to coronavirus.
In a memo sent to staff, head of sales Marc Badrichani and head of trading, Troy Rohrbaugh, said the company has “started to test and implement alternative working arrangements for employees in New York and London”.
“Dividing our workforce into different locations improves our ability to serve clients continuously while reducing the health risks associated with physical contact should a case arise”, they added.
Goldman Sachs and Barclays are also testing back-up sites in Croydon and Northolt respectively, according to Reuters.
JP Morgan declined to comment on the memo.
Businesses across the City are bracing for the impact of Covid-19 and are putting contingency plans in place in case of widespread outbreak.
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S&P Global Platts has told its employees at its Canary Wharf office to work from home after a visitor was diagnosed with coronavirus.
According to the Financial Times, the HSBC employee who tested positive for coronavirus had visited S&P’s offices.
The precautionary measures come on the same day as HSBC sent 100 of its London staff home after an employee tested positive for coronavirus.
City A.M understands that an analyst in the bank’s research department tested positive for coronavirus last night. The bank evacuated the entire 10th floor of its London headquarters in Canary Wharf.
Earlier this week, an employee of Deloitte in London tested positive for coronavirus.
There have been 115 confirmed cases in the UK and one fatality.