Hong Kong Protests May Put Bankers Back to Working From Home
Hong Kong Protests May Force Bankers Back to Working From Home
(Bloomberg) -- Just weeks after thousands of bank staff returned to their desks in Hong Kong, lenders from HSBC Holdings Plc and UBS Group AG to Citigroup Inc. are warning of transport disruptions that may force them back to their home offices.
The Asian financial hub is bracing for what could be its biggest day of protests in months, with pro-democracy groups calling for a general strike against moves by China to increase control of the city. Protests are planned for Wednesday near the Legislative Council building in central Hong Kong, close to the offices of banks including Goldman Sachs Group Inc. and Bank of America Corp.
“With possible disruptions in transportation in the coming few days, we would like to remind all staff to continue to carry their laptops to and from the office and to take care when commuting to work,” BNP Paribas SA said in an internal memo on Tuesday. A Hong Kong-based spokeswoman for the bank declined to comment.
Police officers were clearing roadblocks in multiple areas after a group of “thugs” sought to disrupt traffic with nails and other debris, police said in a statement posted to Facebook. Main thoroughfares in the city were largely fine.
HSBC told employees to check transport updates if they are required to work in the office and discuss with managers if they foresee disruptions and cannot work remotely. A spokeswoman for the bank confirmed the contents of the message.
The London-based bank said in a memo earlier this month that 30% of its Hong Kong staff can return to the offices as concern over the coronavirus has eased.
UBS advised staff to discuss work from home arrangements with managers, given possible disruptions, according to a memo. A UBS spokesman confirmed the contents of the memo.
Citigroup also sent a memo to staff alerting them to potential disruptions and to stagger work hours or work from home as needed based on how the situation develops, according to a Hong Kong-based spokesman.
Hong Kong’s lawmakers plan to hold a hearing Wednesday on a bill that would criminalize disrespect toward China’s national anthem. Demonstrators are also protesting China’s plans to impose a national security law that opponents fear will curtail essential freedoms and criticism of the Communist Party.
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