The winter storm that pounded the Mid-Atlantic states and New England Dec. 26-27 shut down operations at the $70.8 billion New Jersey Division of Investment, Trenton.
All New Jersey state offices were closed Dec. 27 because of “severe winter conditions,” according to the state's website. On Dec. 26, state Sen. Stephen M. Sweeney, serving as acting governor, declared a state of emergency because of the storm, which dumped up to 29 inches of snow in some parts of the state. Mr. Sweeney was acting governor while Gov. Chris Christie and Lt. Gov. Kim Guadagno were each out of state on separate vacations.
In New York, the snowstorm, which left 20 inches of snow with 3- to 5-foot drifts in Manhattan's Central Park, had no impact on operations at Goldman Sachs Asset Management in New York, said Andrea Raphael, a spokeswoman.
Bridget Wysong, spokeswoman for New York-based value equity boutique Third Avenue Management, struck a similar tone. “We are very much up and running,” with a main office just steps away from commuter rail hub Grand Central Station helping to minimize any disruption, she said. Third Avenue employees in the suburbs, meanwhile, were able to work out of the firm's office in Rye, N.Y., or from home if needed, she said.
Fidelity Investments spokesman Vin Loporchio said a number of employees in the snow-socked Boston region “are working remotely,” but Fidelity has well-established business contingency plans, and nothing the weather system had thrown at the firm impeded its ability to run money or service customers. East Boston reported 16.5 inches.
A call to a spokesman for the $80.3 billion New York State Teachers' Retirement System, Albany, was answered by regular voice mail, making no reference to the storm.
“Offices are open and services continue as normal,” Olayinka Fadahunsi, a New York City-based spokesman for New York State Comptroller Thomas DiNapoli, wrote in an e-mailed response to questions. “I skied down 42nd Street, got in about five minutes later than usual.”
Mr. DiNapoli is sole trustee of the $132.8 billion New York State Common Retirement Fund, Albany.
The New York City comptroller's office also was open, Michael Loughran, a spokesman for City Comptroller John Liu, confirmed in an e-mail. Mr. Liu is the investment adviser, custodian and trustee to the five city pension funds, with a combined $109.6 billion in assets.
In Philadelphia, the offices of the $3.7 billion Philadelphia Public Employees Retirement System also were open, according to the receptionist. Just over a foot of snow was reported at Philadelphia International Airport the morning of Dec. 27.
The New York Stock Exchange and the Nasdaq Stock Market kept normal hours. The New York Mercantile Exchange delayed the opening of floor trading until 11 a.m. on Dec. 27, while electronic trading was unaffected.
“They pay me good money to be here,” said Vinny Stavola, an Oppenheimer & Co. convertible trader, who trekked from Staten Island to get to work in midtown Manhattan. “It doesn't take a heroic effort to get to work, just a little dedication.”
— Bloomberg News contributed to this story.
