Coronavirus: Major Canadian banks to separate trading staff over COVID-19 concerns

Canada’s biggest financial institutions are making sweeping changes to their trading operations to protect against a novel form of coronavirus, which one bank confirmed it has already faced in its workforce.

Bank of Montreal, Toronto-Dominion Bank, Royal Bank of Canada, Canadian Imperial Bank of Commerce, National Bank of Canada and Laurentian Bank spokespeople told The Canadian Press on Monday they were taking action, including splitting up their trading operations across the globe, as a precautionary measure.

The changes were prompted by the virus known as COVID-19, which has so far killed one Canadian, infected 60 people in the country and spread to hundreds of thousands more globally.

Separately, RBC said it learned on Friday of a possible case of COVID-19 impacting one floor of its Meadowvale office complex in Mississauga, Ont. The case has since been confirmed by public health officials and RBC spokesperson Gillian McArdle said the infected individual has been at home in self-isolation.

“As a precautionary measure, we immediately advised employees who work on the same floor to self-quarantine until further notice, and we immediately undertook a disinfection of the impacted floor and in all common areas, including elevators, cafeteria and washrooms,” McArdle said in an email to The Canadian Press.

Also last week, the bank decided to split its global trading business connected to its Toronto, New York and London locations.

Source: Read Full Article