Fund Finance, Coronavirus, and you – how you can secure your workforce against the coming storm.

Coronavirus has changed everything, so what plans and strategies can you put in place to mitigate some of the harm and look to a bright future?

COVID-19 is looking at putting the huge gains in capital raising at the beginning of 2020 on ice, and however much industry insiders extol the virtues of a banking and legal system better prepared to weather a recession, 2020 is set to be a tough year for Funds and Investors.

But Funds are weathering the storm in remarkably good health.

Rapid shifts in working culture, not to mention whole industries spending weeks, if not months closed or at reduced working levels is only going to increase the need for short term asset support and access to speedy credit, and you can determine how markets will adapt to the coming storm by simply referring to the very first point of action in the European Banking Authorities statement on COVID-19 released in March, “Banks should focus on their core operations and ensure continuity”.

Retention Retention Retention. This is the name of the game, and how we too at Brickfield will act and react in the coming months.

But we also know any hiring freezes will be short lived as flexibility increases around capital call credit access and investment in the long term.

Even during a crisis, firms are hiring and candidates are being on-boarded, but for everyone else looking forward, now is the perfect time to reach out to expert Fund Financiers and Legal Counsel.

Getting your team in place for the inevitable swing back to worldwide positive investment has been a focus of ours and will undoubtedly continue to be for the next few months with some of our key clients.

It would be foolish to think funding and Fund Finance specifically will exit the rise of COVID unscathed, but we are in a formidably strong position compared to 2008. Look to your people as your security and future – a firm is nothing without its people, and prepare for an unprecedented summer!

References:

COVID-19 and its impact on the financial services sector