March 4, 2020 / 12:47 PM / a month ago

UBS imposes global ban on business travel due to spread of coronavirus

ZURICH, March 4 (Reuters) - Swiss bank UBS Group has imposed a global ban on business travel due to the spread of the coronavirus, according to an internal memo sent to staff on Wednesday.

"The health and safety of our employees and clients is always our main priority. We are actively monitoring the situation and are in close contact with the relevant authorities," a spokesman said.

Banks and exchanges in Europe are readying out-of-town offices, splitting shifts and isolating some teams to ensure they can keep trading if coronavirus spreads in more major financial centres.

Reporting by Oliver Hirt, Writing by Michael Shields, editing by John Revill

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