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* Goldman, Barclays among banks testing backup sites
* Traders face long commutes as banks shift staff
* JPMorgan first to activate plans as virus spreads
By Pamela Barbaglia, Lawrence White and Thyagaraju
Adinarayan
LONDON, March 5 (Reuters) - Traders at the world's biggest
banks are swapping their plush city centre offices to work from
suburban outposts in New York and London, facing lengthy
commutes as their employers attempt to reduce the disruption
caused by coronavirus.
Disaster recovery sites in Greenwich, Connecticut in the
United States and Northolt in Britain are currently being tested
by Goldman Sachs Group Inc and Barclays, with
entire teams working in sales and trading already heading to the
suburbs, several sources told Reuters.
"This is happening as we speak. It's a test disguised as a
real move to prevent contagion," said a source familiar with the
matter, speaking on condition of anonymity as the plans are
confidential.
The number of those in transit is expected to rise in the
coming weeks as regulation - along with complex technology and
the need for high-speed connections - means trading desks cannot
operate remotely.
HSBC on Thursday sent 100 staff home from its Canary Wharf
headquarters in London, after a worker tested positive for the
coronavirus, the first known case at a major company in Europe's
main financial hub.
JPMorgan Chase & Co was the first bank to activate
contingency plans and split 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.
For traders who have early morning starts, it means
resetting their alarms and travelling for an additional 30 to 45
minutes on average.
Most traders feel the precautions are useless as hundreds of
people are still expected to work in the same office and it only
takes one to spread the virus. They note no one is checking
temperatures.
But banks argue that scattering staff and travelling away
from central areas will help them minimise the risk of
contagion.
Some Barclays staff working at the bank's Northolt site –
about 13 miles from central London - have complained to
colleagues about the longer commute and the increased risk of
catching the virus while travelling.
"It's a very long tube journey," one source said.
In the United States, Goldman Sachs has secondary offices in
both Greenwich, Connecticut, and Jersey City, New Jersey.
Goldman's Jersey building is located 10 to 15 minutes by
ferry from its existing New York base, making it the destination
of choice for most of its traders.
In Britain, Goldman has been testing a facility in Croydon,
on the outskirts of London.
Morgan Stanley and Citigroup Inc are testing UK
sites near London's Heathrow Airport and the southeast district
of Lewisham, respectively, and have yet to decide whether to
shift staff.
None of the banks intends to arrange bus or coaches to make
the commute easier, the sources said.
JPMorgan expects the bulk of its moves to happen on March 9
and has informed traders that line managers would privately
disclose their new destination and this would become their daily
office until further notice.
"You're just expected to get there," said another source
familiar with the changes.
"They are not buying out hotels or anything... at best you
get reimbursed for your taxi ride."
(Reporting by Pamela Barbaglia, Lawrence White and Thyagaraju
Adinarayan; additional reporting by Elizabeth Dilts; Editing by
Lisa Shumaker)
