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In view of the growing risk of the Corona virus spreading, we would like to inform you about the precautionary measures Hauck & Aufhäuser Privatbankiers AG is taking to be prepared for a possible outbreak of the virus.

Hauck & Aufhäuser has a comprehensive Business Continuity Management (BCM) programme to protect us from potential risks and damages or to mitigate them. In preparation of a potential Corona pandemic, the crisis management team was activated and a dedicated working group set up to make preparations for the continuation of business operations and ensure the safety of our staff.

Hauck & Aufhäuser has developed a concrete plan of action to limit the risk of infection resulting from a spread of the COVID-19 virus:

  • The measures contained in this plan are taking into account various crisis scenarios
  • Decisions are taken in a specially established crisis team in consultation with the Executive Board
  • We assume three risk scenarios:
    • No direct involvement of employees (preventive phase)
    • Illness of a small proportion of the workforce
    • Illness of a significant proportion of the workforce
  • None of the scenarios envisages a scheduled limitation of services to customers
  • Should restrictions nevertheless arise, the affected customers will be informed promptly
  • The measures already taken serve to protect employees, customers and business partners from infection and to maintain business operations
    • All essential processes can be ensured decentrally or by relocating processes to alternative premises
    • The large number of our employees are able to work from their home office
    • Existing emergency workstations at the main locations can be filled at short notice
    • From calendar week 12 onwards, some employees work preventively in their home office
    • We are constantly working on optimising the technical requirements for decentralised activities
    • Decision makers are subjected to the same regulations
  • These measures enable us to react flexibly to cases of illness in individual areas and to compensate for the temporary closure of a site in Luxembourg and Germany
  • We assume that the preventive measures will significantly reduce the risk of a significant loss of some of our employees
    • Between 30 and 50% of the workforce is permanently in the home office
    • Central processes at the locations can be staffed at any time from this pool – if necessary on site
    • In the rules, our critical processes are mastered by several employees
    • The current plan of action provides for a significant loss of employees, that only internal processes are reduced to a very low level in order to make available resources in the services for customers

Version: 13.03.2020


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