As the coronavirus spreads, British bankers are preparing to use trading sites miles from London’s City and Canary Wharf -- and their regulators are keeping a keen eye on that contingency planning.
Goldman Sachs Group Inc. is actively testing its backup trading operations in the south London neighborhood of Croydon, according to a spokesman for the Wall Street firm. JPMorgan Chase & Co. is preparing for potential staff moves to backup sites in London and Basingstoke, 45 miles southwest of the British capital, according to people familiar with the bank’s plans.
