The greetings are awkward and the skyscraper lifts half-empty. But Hong Kong's cafes are filling and taxis are harder to find as the first wave of financial professionals return to their offices after an easing of coronavirus lockdown rules.
HONG KONG - The greetings are awkward and the skyscraper lifts half-empty. But Hong Kong’s cafes are filling and taxis are harder to find as the first wave of financial professionals return to their offices after an easing of coronavirus lockdown rules.
“Everyone is very cautious ... you literally have to think before you do anything - literally anything - even doing a high-five with a buddy.”Handshakes are sometimes offered, producing awkwardness over whether to accept, while others report an uptick in “namaste greetings”, with palms pressed together, or the Chinese-style fist pressed in a palm. Foot and elbow bumps are also popular.
Banks including Goldman Sachs, and Morgan Stanley are now allowing meetings of up to eight people, although all meetings at Bank of America remain virtual, sources said. Citigroup allows meetings of up to 10 people if they can’t be avoided. Many bankers are still leery of face time, however. One senior dealmaker at another institution says while some of his team attend a regular Monday meeting together, he dials in from his office in the same building.With the bulk of interaction still being online, dress codes have become markedly more casual. Few expect that to change soon, with travel banned and external meetings so limited.
“I’m not going to the tailor ordering a few suits at once like I usually do every January. He is not going to be my friend anymore.” “One thing has been shown during the coronavirus shutdown was that so much more can be achieved using technology,” said one chino-wearing capital markets lawyer.
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