HSBC divides Hong Kong team to different locations

Bloomberg

HSBC Holdings warned traders that one of the main risks to business continuity is the city’s quarantine policy as the Asian financial hub tightens to contain a fifth wave of infections.
Hong Kong, which is pursuing a Covid Zero strategy to match mainland China, has employed some of the strictest measures in the world to keep infections at bay.
Authorities have sent close contacts of positive cases to quarantine camps for several weeks and also banned flights from eight countries, on top of mandating 21 days in hotel isolation for most incoming travellers.
“The risk we now face is not merely about being infected by Covid-19, but most importantly being 1st, and 2nd level close contact and being taken to government quarantine for 14 and 4 days,” the bank said in an email to staff in the division. “We are trying to protect staff from this risk and to continually be able to support the business.”
As a precaution, the bank has split its global markets division into three, with a group of about 190 people working at its main office on Queen’s Road Central, a team of about 65 people placed at an office in Shek Mun, and a third team of about 200 working from home.
That split, which took place from January 7, will likely last until February 4, according to the memo. Maintaining the separation is to manage risks to the trading floor, the email said.
Business groups have said the stringent approach is jeopardising the city’s status as a financial hub while city officials maintain that it’s necessary to keep infections and deaths to a minimum as they also have made opening up travel to mainland China their top priority.
The strategy in November received the backing of Noel Quinn, HSBC’s chief executive officer, who said it was important for Hong Kong to get in place what they need to reopen travel to the mainland.