Global bankers reinventing dealmaking basics amid coronavirus outbreak

Global bankers reinventing dealmaking basics amid coronavirus outbreak

A logo sits on display in front of the Deutsche Bank AG headquarters at dawn in Frankfurt, Germany. Photographer: Ralph Orlowski/Bloomberg

It sounds like advice for averting Wall Street deals: Don’t travel. Don’t meet clients. Don’t even shake hands.

Yet those instructions are now flowing through the global financial industry as the coronavirus spreads. On a growing number of continents, banking and investing professionals are preparing for the possibility they will soon be working from home. Industry conferences for drumming up business are thinning out, moving online or facing cancellation. Sales of some new securities are sputtering.

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