Wall Street Staff Struggle Into Work Monday

Wall Street

It looks like it will be almost business as usual for Wall Street Monday, after Hurricane Irene mostly bypassed New York City's main financial district.

The markets opened as usual, and bridges, tunnels, subways and buses will be operating mainly normally. But Bloomberg reports that New York City's City’s subways were 'only partially open', though, while New Jersey Transit said rail service was suspended on all but one line and Metro-North trains were 'inoperable'. Several trains from the suburbs won't be running at all.

Several Wall Street staff are expected to simply work from home, and some will journey to other office locations just outside the City. Others will car pool and hope for the best.

American Express

The firm has confirmed that its offices in the World Financial Center will remain closed Monday 'given the uncertainty regarding the mass-transit situation, street flooding, and clean-up work that will need to take place in the surrounding area'.

Bank of America

The bank said in an email statement: 'We encourage our employees to use their best judgment and to proceed with caution if they are in impacted areas and to check with their managers regarding contingency plans'.

Citigroup

The firm has confirmed that its main trading floors at 388 - 390 Greenwich Street are 'fully functional'.

Goldman Sachs

The firm's 200 West Street in Battery Park City is said to have been surrounded by sandbags since Friday, but is 'functioning normally'.

Staff are said to have been told staff to 'exercise good judgement' on dress code for Monday, but they can dress casually if they make it to the office.

HSBC

The firm is said to have put some of its traders up in hotels at the weekend to ensure that there was no issues getting to work Monday.

JPMorgan Chase

The firm said in an email that its HQ building will operate normally Monday, and that it is using a hotline to communicate with its City employees.

Morgan Stanley

The firm has confirmed that it expects it to be 'business as usual' Monday.

Nomura

The firm had prepared its disaster recovery site North of the City for use in case of disruption. This facility is not now expected to be needed.

Sources - Bloomberg, Dow Jones Newswires, Reuters, The New York Times, The Wall Street Journal

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