Paris, Tuesday 24 March 2020
The acceleration of the coronavirus crisis, the confinement measures taken by a growing number of governments around the world, the repercussions already seen on our economies and their translation into the behaviour of financial markets are creating a truly exceptional moment in our collective history.
In this context, we have taken a series of measures aimed at two fundamental objectives: the protection of people's health - of our clients and employees - and the continuity of the services we provide to our clients, maintaining our high level of quality.
Our daily action in this crisis is based on three pillars:
- First, managing our clients’ investments with the same concern for rigour and performance that we have always had. 90% of our employees are now working from home and our investment teams are mobilised to manage your funds and mandates as efficiently as possible despite the market environment, thanks to our robust IT system. This platform is managed by a team of more than 600 people who operate our production centres and back-up sites in France, serving our 37 locations around the world. Our teams manage the daily connections of our 5,000 employees around the world from the Paris-based operational centre. This system, used on a daily basis under normal circumstances, is particularly useful in times of crisis.
- Second, bringing our clients the advice they need to help them weather the market turbulence. In these exceptional circumstances, we will keep in close contact with our clients through weekly communications on our analysis of the crisis and markets, and our staff are available to provide them with any investment advice they may require.
- Finally, ensuring the successful completion of our clients’ operations. For the past month, we have been gradually deploying our business continuity plans across our entire platform and with no significant operational incidents to report. We see this as evidence of the relevance of our contingency plans.
The Group’s Management Committee meets every day to assess the situation and decide on the appropriate measures called for by the operating environment and the financial markets. This Group Management Committee is in turn supported by equivalent governance in each of our locations around the world.
This crisis is unprecedented in its magnitude and it is difficult to predict how long it will last.
Our teams will keep you regularly informed of any developments and remain available to assist you at any time.
Text updated on March 24, 2020.