RBC said it was splitting operations for its trading floors in Toronto, New York, New Jersey and London as a “precautionary measure” to backup locations. CIBC said it would move some of its traders to other locations, as did BMO. TD said it is assessing its business continuity plans, and would likely separate groups of employees, like sales and trading. (The Globe and Mail, Bloomberg)

Talking point: Canada’s banks join companies across the country and the world in considering remote or offsite work as the new normal amid uncertainty over the impact of the outbreak, which has now impacted over 114,000 people globally, with the first Canadian death announced today in B.C. The health community has noted the phenomenon: “For COVID-19, the potential economic impact of self-isolation or mandated quarantine could be substantial,” medical journal The Lancet said in a paper released Monday. Meanwhile, many U.S. companies are going one step further by promising their employees they will take on the costs of medical testing, cancelled holidays, bank fees and lost wages, should the need arise. “How [CEOs] react to it will be remembered. There’s a short-term cost and none of us knows whether that will [last for] a quarter, six months or longer, but talent has a long memory and we are short of that talent,” said Tim Ryan, chairman of PwC in the U.S.