Wall Street CEOs to Visit White House With Virus Roiling Markets

(Bloomberg) -- Goldman Sachs Group Inc. Chief Executive Officer David Solomon and Wells Fargo & Co. CEO Charles Scharf are among Wall Street executives set to attend a White House meeting Wednesday as the coronavirus outbreak roils markets and the global economy, spokespeople for the banks said.

Citigroup Inc. CEO Michael Corbat, Bank of America Corp. CEO Brian Moynihan and JPMorgan Chase & Co. Co-President Gordon Smith also will be attending, according to people with knowledge of their plans. Smith and Co-President Daniel Pinto are in charge of JPMorgan while CEO Jamie Dimon recovers from emergency heart surgery last week.

President Donald Trump promised to announce “substantial” economic measures on Tuesday to combat fallout from the virus, including aid for the airline and cruise industries, but continuing uncertainty about the details led early gains on Wall Street to fade.

The White House is seeking insights from the executives into the market and capital liquidity, and wants to hear about what types of relief banks will be providing to customers and clients, said one of the people, who asked not to be identified discussing plans for the private meeting.

--With assistance from Jenny Surane, Hannah Levitt, Kevin Cirilli and Lananh Nguyen.

To contact the reporters on this story: Saleha Mohsin in Washington at smohsin2@bloomberg.net;Michelle F. Davis in New York at mdavis194@bloomberg.net

To contact the editors responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net, Dan Reichl

©2020 Bloomberg L.P.