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Top asset managers ask Andrew Bailey to close stock markets for two weeks

On a call with Bank of England governor, asset managers were split on whether to close markets

Top asset managers ask Andrew Bailey to close stock markets for two weeks
Photo: iStockPhoto

Executives from some of the biggest asset managers told the Bank of England’s new governor on Monday that financial markets should close for two weeks as the world confronts the coronavirus pandemic, people familiar with the matter said.

Speaking on a conference call with BOE governor Andrew Bailey, several executives raised the possibility of a shutdown during a wide-ranging discussion on the state of the markets and the financial services industry. A majority of those on the call, though, said they didn’t think shuttering the markets would help address the deepening crisis, the people said.

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