One Zurich bank ran all three time-zone shifts from a single physical floor
Evidence
We conducted field research on the trading floors of three globally operating investment banks in Zurich, where they are officially based. We selected two of the three largest Swiss banks and one private bank, each of which represents a different market segment. … The second bank, which we designate “GB2,” represents second-tier trading in terms of deal volume and size, with total revenue of approximately $700 million in 1999 and with rising revenue from trading operations; this bank was selected because, in contrast to GB1 and other large investment banks, it offers 24-hour trading services for the different time zones at the Zurich location, featuring, besides staff composing the Zurich daytime shift, an afternoon New York shift and an overnight Tokyo shift. — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 47
Categorization
- XREF: Complicates the hub-time-zone geography of the previous passage: time-zone coverage can be colocated on one floor, relevant to work-from-anywhere debates in finance.