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JPMorgan Latest Lender to Call Staff Back to London Offices

Barclays and HSBC Tell London Staff They Can Return to Offices

JPMorgan Chase & Co. has joined a flurry of banks telling staff to get ready for a return to the office as the City of London prepares for a flood of workers to return to their desks in the coming weeks.

The U.S. lender told staff on Friday that it expects them to work “at least some days in the office every week” starting from Feb. 1, according to a memo seen by Bloomberg News. The firm strongly encouraged staff to get vaccinated but said that isn’t a requirement to enter the building, unlike at its Manhattan outposts.

Deutsche Bank AG earlier told staff it will start bringing more of them back to their desks from the end of January after months of remote working. Barclays Plc staff have been told they can return to the office from Monday as the British bank reverts to its hybrid working arrangements, according to a person familiar with the matter. 

While key workers including some traders have never left the office, many staff have been working remotely since the U.K. government introduced guidance to do so in December when the omicron variant was spreading rapidly. That was unwound on Wednesday and rules mandating people wear face masks in shops and on public transport will be dropped from Jan. 27. 

It means the City of London will likely see an influx of workers from next week. Goldman Sachs Group Inc. and Citigroup Inc. are among the firms encouraging staff to get back to their desks.

That may be easier said than done. Allison English, deputy chief executive officer of workplace research firm Leesman, predicts that some employees will be reluctant to return. 

“After two years at home, readapting to the office and bringing back commuting is going to throw some people off kilter,” she said in an interview. “Sudden change is difficult and that can have an impact on employees’ well-being and pose operational challenges for employers.’

HSBC Holdings Plc told staff in England on Thursday they can return, according to a memo sent to all U.K. staff and seen by Bloomberg. Employees will no longer be required to wear face masks from Jan. 27, though the firm recommends they keep wearing them in lifts and when moving around buildings, Emma Bunnell, chair of the bank’s U.K. Major Incident Group, said in the memo.

Whether the lender’s employees return depends on business and client needs and regulatory requirements, and the decision will be made by internal businesses and line managers, a person familiar with the matter said. They added that there will always be more traders and sales staff in the office compared to other functions.

Lloyds Banking Group Plc has also told staff in England they can choose to return, a company spokesman said in an email. Colleagues based in Northern Ireland, Scotland or Wales will continue to work from home if they are already doing so.

“We continue to monitor the government’s guidance closely for the health and wellbeing of our people and customers and plan to recommence our move to hybrid working in the near future,” the spokesman said.

©2022 Bloomberg L.P.