Deals
Wall Street’s New Virtual Workplace May Outlast the Virus
- A lesson from Hong Kong goes global: Deals can be won by video
- ‘The outbreak has created the urgency to try out new ideas’
Photographer: picture alliance/Getty Images
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In Hong Kong, bankers have learned to win stock offerings by video chat, and Morgan Stanley is hosting a virtual meeting for a thousand-plus attendees. At Swiss giant UBS Group AG, wealth management executives have realized trips to see clients weren’t as crucial as thought. In California, an investor in hedge funds said he’s pleasantly surprised by how much faster he can confer with them remotely.
Virtual finance may far outlast the coronavirus.