What the coronavirus means in terms of how we serve you
20 March 2020 | Topical insights
In this short video Tim Buckley, Vanguard's CEO, and Greg Davis, our chief investment officer, discuss how we ensure business continuity and strong client service.
Tim Buckley: Greg, one of the questions that we've been getting from our clients is what are we doing around business continuity? What steps have we taken to make sure that regardless of how long the coronavirus goes on regards to how severe it gets that we can continue to keep the operations going? And now to our viewers out there, if you look behind me, what you're looking at is one of our trading floors. Usually you'd see it densely populated. That doesn't mean that people aren't working out there when you just see people, every other desk or every third desk. It means that we've distanced them properly, and I should by the way mention that you'll notice a Greg and I are sitting apart here. We're trying to practice social distancing in everything that we do. Beyond, social distancing, what are you guys doing? What steps have you taken to make sure this operation continues? How have you distributed your team?
Greg Davis: So it starts really with the fact that, hey, it's a global operation so we have trading locations in the US, trading locations in the UK as well as in Melbourne, Australia. And in addition to those global trading locations, we also have contingency sites that we're leveraging right now in each one of those locations. So we have our team split up between our main hubs and those contingency sites. And we've even prepared for the fact that if we need to, our people could trade from home. So we've installed the technology, we've tested the system, so we could have business as usual, even in a severe event.
Tim: And trading from home is not something you are going to jump to. I mean you guys love the collaboration that happens on the floor even when people are spread out. It's just much easier to happen there. That said, if we have to go there, we are absolutely ready to do it.
Tim: Security is going to be the same absolutely, whether if someone's at home as it's going to be the same if we're trading from home, as if you're trading from here.
Tim: Now, I should mention Greg that the rest of Vanguard's operations, whether they're talking to an associate at Vanguard, whatever area of Vanguard is supporting the client, those areas have been distributed too. We have taken steps to move associates apart. Moving between different buildings. People are working from home. They are distributed between our sites as well, so, we're taking the steps to make sure that we continue to be ‘business as usual' here or as close to as usual as possible
Investment risk information:
The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
Other important information:
For professional investors only (as defined under the MiFID II Directive) investing for their own account (including management companies (fund of funds) and professional clients investing on behalf of their discretionary clients). Not to be distributed to the public. In Switzerland, for professional investors only.
The material contained in this article is not to be regarded as an offer to buy or sell or the solicitation of any offer to buy or sell securities in any jurisdiction where such an offer or solicitation is against the law, or to anyone to whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so. The information in this article does not constitute legal, tax, or investment advice. You must not, therefore, rely on the content of this article when making any investment decisions.
The opinions expressed in this article are those of individual speakers and may not be representative of Vanguard Asset Management, Limited.
Issued by Vanguard Asset Management, Limited which is authorised and regulated in the UK by the Financial Conduct Authority. Issued by Vanguard Investments Switzerland GmbH.
© 2020 Vanguard Asset Management, Limited. All rights reserved.
© 2020 Vanguard Investments Switzerland GmbH. All rights reserved.