As the coronavirus continues to spread, our Chief Operating Officer informs about the measures we have taken to assure our continued business operations, the safety of our clients and colleagues as well as the resilience of our investment operations.
Since 30 Jan 2020, a dedicated operational risk task force has been working to ensure that all locations are prepared and can initiate their BCP plans as necessary. As a result of this, we can confirm that all staff are equipped with appropriate tools and infrastructure, and that consequently our operational capabilities and the continued stability of our investment execution has been maintained. We have set up emergency backup workspaces that allow us to split business-critical units into isolated sub-teams and thus reduce the potential impact of the coronavirus to our teams.
We are present in some parts of the world that are already directly impacted by the spread of the coronavirus. In Hong Kong and Milan, our BCP plans were activated a while ago, but there too we can confirm that operations have been maintained and as of this date all staff are safe and able continue in their daily responsibilities. Many of our colleagues have been working from home. Most of our in-person client meetings have been replaced with either conference calls or videoconferences. Together with our clients we decided to cancel or postpone some larger events.
All of our teams have been in close communication and we have placed extra emphasis on making certain that everyone is informed and educated. This regards precautions everyone can take himself, what the latest local health advisories or other limitations are. Business travel to affected areas has been prohibited and we have helped affected teams make alternate arrangements as appropriate. Travelers returning from affected areas have also been required to self-quarantine in line with local best practice.