Last Tuesday, 17 major financial firms got together to discuss the SARS outbreak that has crippled Hong Kong over the last 10 days. Those present say they have rarely, if ever, seen the Territory's investment banks cooperate with each other and share information so freely.
All the major firms have initiated action to ensure the disease does not spread. So far no one at any of the major investment banks has contracted SARS.
Most have adopted similarly cautious approaches.
JPMorgan, for example, has two business continuity meetings per day, at 2.30pm and 5.30pm to discuss SARS and sends out a daily email updating staff. In fact these...