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Nuveen’s response to coronavirus
As a global business with more than 2,800 employees, operating in 24 countries and serving clients around the world, Nuveen’s top priority is to protect our people and our clients and the capabilities that allow us to serve clients.
To meet that priority in light of the spread of the coronavirus (COVID-19), we are drawing on long-established business continuity plans (BCPs) as well as additional resources, planning and strategy across Nuveen and our parent, TIAA.
We want to assure you that our plans and procedures cover all aspects of our investment management and client-servicing operations. They are designed to ensure maximum service levels are maintained and minimize the impact caused by any disruptions. They also enable quick and efficient recovery if necessary.
In direct response to the coronavirus, Nuveen is also taking additional steps and implementing additional policies:
- Nuveen and TIAA senior leadership are meeting several times a day to monitor conditions and update policies and procedures as warranted.
- We regularly update employees with guidance that aligns with that from the Centers for Disease Control (CDC) and World Health Organization (WHO).
- We are encouraging all associates globally at this time to work from home (effective March 16, 2020).
- Remote access abilities for those working from home are in place to ensure that business operations continue without disruption.
- As part of that, the company has suspended all non-essential business travel until further notice.
- In addition to our public and private securities business readiness, we have put in place resources for our real assets holdings such as guidance and hotlines for real-estate property managers.
- We continuously monitor health and safety conditions on the ground in every country where we operate and can resort to work-remote solutions in or recovery-site solutions immediately as necessary.
- Our operations, including trading and all aspects of portfolio management, are not dependent on any single location thanks to large, globally dispersed teams that can move activities to alternate locations.
- Our data centers, which are continuously tested and monitored, can run unmanned for a few weeks and, if necessary, remotely switched over to recovery facilities.
Protecting and informing clients
Please be assured that Nuveen remains fully capable of investing all of our client portfolios and committed to the welfare of our employees and the clients they serve.
Our portfolio managers and teams will continue to pursue risk-adjusted returns and outcomes that help investors meet their long-term goals.
We’ll also provide additional insights about the potential effects of the coronavirus on the global economy, markets and portfolios, and updated views from our Global Investment Committee (GIC) can be found here. And we will of course let you know about any impact to our operations should that become necessary.