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Article: Middle East & Africa: Lebanon - Business As Usual In Beirut - Nick Kochan Explains How Contingency Planning Allowed The Bank Of New York Beirut Office To Remain Operational As Israeli Bombs Fell On Lebanon's Capital.
- Article from:
- The Banker
- Article date:
- September 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: NICK KOCHAN
When the six staff at the representative office of The Bank of New York (BNY) in Beirut heard that the airport had been bombed and was closed, they knew that the conflict on their doorstep was serious. Shooting and bombing could be heard at the bank's city centre offices.
The bank immediately activated its contingency plan - devised in the wake of 9/11, but never tested for real. The plan is structured like a pyramid, which can be activated at different levels. It allowed the bank to continue servicing its local customers throughout the crisis. Today, that plan has not only ensured its survival, but it has also cemented ...