Morgan Stanley (MS.N) is shifting part of its London-based sales and trading staff to a secondary site near Heathrow airport to ensure its trading desks can operate smoothly through the coronavirus outbreak, two sources familiar with the matter said, Trend reports citing Reuters.
The Wall Street bank had tested the Heathrow site earlier this week and is pressing ahead with plans to move part of its trading workforce on March 9.
The move comes after JPMorgan (JPM.N) took similar steps to minimize the risk of contagion, splitting its sales and trading staff between central locations in London and New York and secondary sites in Basingstoke - about 50 miles (80 km) from its London base - and New Jersey.