When the deadly earthquake struck Tokyo at 2.45 pm on Friday, banks were forced to make a quick decision.
While Goldman Sachs and Morgan Stanley evacuated their Tokyo offices immediately, BofA Merrill Lynch stayed put, Dow Jones reports, via Financial News.
A spokesperson for BofA said the decision was made not to evacuate “due to the dangers of being on the street during an earthquake.”
In fact, many of their bankers even remained in the office overnight because they couldn’t get home. The same thing happened to Goldman workers. Because of transport disruptions, bankers returned to their desks at 5.30 pm and then slept in the office.
Goldman, Merrill and Morgan Stanley didn’t report any injuries, and Dow Jones reported that “most of their employees had arrived for work as usual this morning.”
As for Nomura, which is based in Japan and had two branches in Sendai, one area ravaged by the tsunami, the bank said its 15,000 “were safe and accounted for.”
Also, banks have been quick to announce donations to the relief effort. Goldman donated about $6.1 million; Nomura donated $1.2 million and so did BofA; Jefferies will not only donate all net equity trading revenue for the entire week from its offices in Asia, according to CNBC, it will also donate all net revenues from U.S. and European equity trading, plus it will give $1 million.