British multinational bank HSBC recently sent more than 100 of its London staff home after a worker tested positive for the novel coronavirus. It is being reported that this is the first known case at any major company in the European financial district.
As per an internal memo by CEO Noel Quinn, accessed by Reuters, the bank also has an employee in China with the infection who is now in a stable condition.
The possibility of the coronavirus spreading across the finance industry is worrying regulators, who fear the absence of important staff could lead to liquidity problems in markets if firms cannot operate their trading operations normally. Banks worldwide are readying out-of-town offices and isolating some teams to ensure trading operations continue if the virus spreads to more financial centers.
The European Central Bank has now asked all eurozone banks to quickly test their large-scale remote working arrangements for important staff, as per a letter seen by Reuters. German and British financial regulators have also said they are watching how prepared banks and other institutions are.
Addressing the media about the infected employee, an HSBC spokeswoman said, “We have been informed that one of our employees at 8 Canada Square has been diagnosed with COVID-19. This colleague is under medical supervision and has self-isolated. All staff whose roles allow remote working have been told they can work from home if preferred.”
HSBC has told staff who came into contact with him to work from home as areas affected undergo a thorough clean.
The novel coronavirus outbreak from China in December last year has now reached all the continents except Antarctica, leaving more than 90,000 infected and claiming the lives of more than 3,000 people. Corporations around the world are now facing the heat of the virus which led to the world’s largest work from home experiment to happen.
Sandeep is a journalism and mass communication graduate with a keen interest in politics and business. He is a part of Research & Content team at HrNxt.com.