March 6, 2020 / 5:47 PM / a month ago

Bank of America splitting trading staff amid coronavirus concerns - source

March 6 (Reuters) - Bank of America Corp is splitting its trading staff with about 100 employees working out of the Stamford location effective Monday, according to a source familiar with the matter.

This was a precautionary move, the source said, adding that other business lines were not impacted by the split.

Business Insider earlier reported on the development, citing an internal memo sent on Thursday to employees of its New York-based fixed income and equities units.

Employees at the company’s headquarters “should continue to come into the office and operate business as usual”, but staff will be banned from moving between the Stamford and Manhattan offices, according to the report.

The number of people infected with coronavirus across the world crossed 100,000 on Friday as the outbreak reached more countries and the economic damage intensified.

Other U.S. banks like JPMorgan divided its team between central locations and a secondary site in New Jersey, while Goldman Sachs sent some traders to nearby secondary offices in Greenwich, Connecticut and Jersey City. (Reporting by C Nivedita in Bengaluru and Imani Moise in New York; Editing by Shounak Dasgupta)

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