Business as Usual; Disaster Recovery: FSA Shows an Example of Best Practice
Byline: Nevill Boyd Maunsell
Leading financial services organisations in Birmingham have arranged back-up offices were they should be able to resume work rapidly in the event of a terrorist attack or other disaster making their main offices unusable.
Publicising its own 'business continuity' arrangements yesterday, the Financial Services Authority said it was 'not as happy' with the disaster recovery plans of some other organisations.
'Maybe 30 to 40 per cent of the medium-to-smaller financial service firms don't have adequate back-up plans,' said Michael Foot, the FSA's managing director.
The regulator has concentrated on London, because it was seen as the most likely target.
Mr Mark Hopton, senior partner of KPMG in Birmingham, said it had contractual arrangements to have back-up offices available where 75 per cent of its staff could resume work immediately. The rest would be able to work from home. Telephone switches and IT connections were also transferable.
At the stockbroker Gerrard, a spokeswoman said the operation could move to an alternative site kept permanently empty just outside central Birmingham. …