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JTC & Covid-19

17th Mar 2020

Please note that unless otherwise explicitly stated, the measures detailed in each of the update statements listed below may be considered as additive in chronological order.

Latest update : 24 March 2020

Following the Financial Conduct Authority’s (“FCA”) strong request to all listed companies to delay the publication of preliminary financial statements for at least two weeks from 22 March 2020, we can confirm that JTC will be complying with this request and our results for the year ended 31 December 2019, which were due to be announced on Wednesday 1 April 2020, will now be released once further advice is received from the FCA. In addition, we have provided a market update on our COVID-19 response, explaining further the resilient features of our business model as well as our ongoing tactical response. Full details can be found here.

Latest update : 17 March 2020

The continuing escalation of the Coronavirus / Covid-19 global pandemic is a source of great concern and challenge for us all. In a very short period of time, the scope and impact of this international crisis has become apparent and as the world comes together to manage and ultimately defeat the virus, we want to share details of our response and offer you our support.

Earlier this month, we quickly mobilised our dedicated Business Continuity Planning (BCP) team – which meets daily – and is led by the executive leadership team and supported by the global heads of our operations functions. In order to maintain clear focus during an unprecedented and fast-changing scenario, we have adopted three core principles to guide our actions:

  • WELLBEING – actions that will support and protect the wellbeing of our people, clients and partners
  • SERVICE – actions that will ensure continued service excellence to our clients whilst minimising impact wherever possible
  • COMMERCIAL – actions that will support all JTC stakeholders and minimise any long-term commercial impact to the Group.

Our ongoing response is informed by the monitoring of advice from supranational bodies, including the World Health Organisation (WHO), as well as local governments in all countries and territories where we operate and deliver services.

With our global presence, we have used these principles to implement Group-wide actions from the centre, whilst maintaining the ability to rapidly respond and adapt at a local level.
Specific measures that have already been implemented include:

  • The suspension of all non-essential business travel, in-person meetings, attendance at events and visitors to JTC premises, with video and conference call technology implemented as replacements wherever possible.
  • The activation by our IT team of remote working for every single employee (800+) within the Group. This activation means we have the ability to quickly transition to secure remote working across the business globally as required. Confidentiality and information security remain of paramount importance and JTC remote access employs two factor authentication and restrictions on remote printing to maintain the highest levels of security.
  • Regular communication with all our employees, providing situation updates, specific local office guidance, resources to support personal and family wellbeing and information to coordinate and support the delivery of seamless client service.
  • Increased frequency and rigour of cleaning of all JTC office premises including the provision of additional hand washing and sanitising facilities.
  • The use of self isolation and social distancing measures as specified by local government authorities in all relevant locations and in support of putting the health of our people, clients and partners first.

During this difficult and unpredictable time, we all have a responsibility to help each other, to listen to public health experts and to be patient and understanding as we remember that everyone is trying to work together to overcome this immense challenge.

JTC has been serving clients for over 32 years and we have witnessed – and survived – many significant challenges during that time. The Group has a fundamentally robust business model and sound balance sheet, which enables us, on behalf of our clients to be prepared, resilient and disciplined in our response. We stand ready to support all our clients through their existing service arrangements and with any additional needs they may face.

If you have any specific questions or concerns, please do not hesitate to contact your usual JTC representative, or you can email our BCP team using the address groupbcp@jtcgroup.com

 

Update issued: 12 March 2020

The situation continues to evolve rapidly on a global basis and we have further increased our monitoring through a wide variety of sources, with a particular focus on advice issued by national governments and the WHO.

Our Business Continuity Planning (BCP) team, led by our Chief Operating Officer, has adopted a three principles framework to guide our actions. These are, in priority order, as follows:

  1. WELLBEING – actions that will support and protect the wellbeing of our people
  2. CLIENT SERVICE – actions that will ensure continued service excellence to our clients whilst minimising impact wherever possible
  3. COMMERCIAL – actions that will support all JTC stakeholders and minimise any long-term commercial impact to the Group

We continue to issue regular communications to all our employees and business partners and the BCP team is working closely with the leaders of all our offices to manage local variations in the situation if and when they arise. We have now implemented bans on all non-essential business travel and attendance at large external gatherings and have also put in place screening measures prior to hosting any external visitors to our premises. Our contingency plans for employees that may need to self-isolate in accordance with government advice are well developed and include the use of alternative work locations and home working solutions. At the time of writing all our offices remain fully operational.

 

Update issued on 5 March 2020

JTC is closely monitoring the Covid-19 / Coronavirus situation through a wide variety of sources, with a particular focus on the wellbeing of our employees.

The principal impact, at the present time, is around travel in general and our centrally managed travel team, along with our travel booking partner and insurer, are constantly reviewing the latest guidance from relevant governments around the world. In broad terms, we are focussed on adhering to government issued advice and restricting all non-essential business travel. We have established a dedicated business continuity plan team, led by our Chief Operating Officer, who are responsible for ensuring that all necessary measures associated with managing the specific risks relating to the Covid-19 / Coronavirus situation, are adhered to.

We are also increasing the use of available technologies, such as video conferencing, as a substitute to in-person travel where possible.

With regards to our operations, our focus remains on the delivery of excellent client service and while all our offices remain fully operational at the time of writing, our existing BC / DR plans support ongoing service provision through a number of scenarios, including the need for members of our teams to work in other locations or from home.

Our resources and strengths

We value shared ownership

We operate around the principle that if our people have a stake in the business, they will do a better job for our clients.

We invest in people

Over 70% of our employees hold a relevant professional qualification or are working towards this through our dedicated JTC Academy.

We embrace technology

We operate a variety of best-in-class systems to deliver and maintain an impeccable standard of administration and use technology to innovate in both service delivery and efficiency.

We value relationships

We aim to work with clients who share our belief in the importance of building strong relationships over time.

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