JPMorgan Splits Staff Amid Banks’ Quickening Virus Response
- Workers asked to avoid contact with employees at other offices
- JPMorgan, Wells Fargo restrict non-essential domestic travel
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Global banks are stepping up their response to the coronavirus, shifting operations as the outbreak spreads in New York, London and other financial hubs.
JPMorgan Chase & Co., Morgan Stanley, Bank of America Corp. and Danish lender Danske Bank are dividing their sales and trading workers, sending some employees to back-up locations to reduce disruptions if employees are exposed to the virus, people briefed on the plans said. JPMorgan and Wells Fargo & Co. restricted non-essential domestic travel, Goldman Sachs Group Inc. is planning to split workers among rotating teams and Royal Bank of Canada turned a conference scheduled for next week into a virtual event.