Bloomberg reports that employees at Citigroup, the third-biggest U.S. bank by assets, won’t be able to enter Lower Manhattan offices on Greenwich Street and Wall Street, which include the main trading floor, according to a memo sent to workers and confirmed by Shannon Bell, a spokeswoman. Goldman Sachs, whose corporate headquarters at 200 West St. is also located in an evacuation zone, told the staff in an internal memo that most of them will work from home.
'We expect that the financial markets will be operating tomorrow (Monday) and the firm will be open for business', Goldman Sachs Chief Administrative Officer Jeffrey Schroeder wrote in a memo to employees yesterday, the contents of which were confirmed by Michael DuVally, a spokesman. 'However, given the potential severity of Hurricane Sandy, we have activated our business continuity plans'.
Banks turned to emergency plans after predictions that Hurricane Sandy could flood parts of the city, including its mass transit system, which began shutting down at 7 p.m. Sunday. The New York Stock Exchange will close its trading floor starting today and conduct business on NYSE Arca, its electronic market.
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