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Roula Khalaf, the editor of FT, selects his favorite story in this week’s newsletter.
Jane Fraser, the highest executive officer of the City Group, says in top executive and banks will allow most employees to work remotely for at least two days.
Fraser, in mid -January, promised to maintain a hybrid work schedule in mid -January over every quarterly telephone with the US Bank Managing Director.
City is sticking to flexible work, despite other bankers increasing their orders in their office. Wednesday, three days a week, requested all the staff from the office to work.
Last month, JPMORGAN CHASE told the staff and the bank began to demand the five days a week from March.
The Trump administration also demands that US federal government employees return to their desk five days a week, providing redundant packages to workers who do not want to follow.
The city’s decision to stick to the hybrid work schedule is more than a rival top executive, which is generally a more generally more generous Fraser’s previous pledge.
Immediately after she became the highest executive officer in March 2021, Fraser was planning to accept not only responding to pandemic but also a long -term strategy. Since then, the city has demanded that most staff members are in the office three days a week. Most traders and bank branch employees must be in the office five days a week.
In recent management calls, Fraser called City’s more flexible office work requirements a competitive advantage. It can be a recruitment tool for the city to attract employees who dislike more strict approaches in some rivals. However, competitors argue that it is essential to return the staff to the office in full -time to promote better collaboration and guidance for young bankers.
Nevertheless, while maintaining the hybrid policy, City has strengthened his workplace policy and enhanced the minimum attendance. In August 2023, the city began tracking a security passwipe to guarantee that workers were at least three days a week.
The City is also on track to renovate the 42 -story Canary Warf Office Tower, which is scheduled to open in 2026.
And the city is still formally existed for three days, but I feel that some investment banks are more frequent in the office. According to the city’s investment bank, his department has said, “I’ve been softened four days a week in the office for a long time.”
