Bank of America to Bring Top NYC Managers Back to Office on June 1
(Bloomberg) -- Bank of America Corp. plans to bring top New York managers back to the office starting June 1, as the proliferation of vaccines across the U.S. clears the way for employees to return.
“Our goal is by after Labor Day to effectively be back to where we were in January of 2020,” Chief Executive Officer Brian Moynihan said Thursday while testifying before the House Committee on Financial Services. The bank has started to bring its vaccinated employees back after staff voluntarily notified the firm that they’ve had the shots, according to Moynihan.
“We have about 50,000 teammates that put the information in and given the ability for us to call them back,” Moynihan said.
Banks have been pushing for staff to return to offices as the vaccine helps an economy near-shuttered by the pandemic begin to reopen. Citigroup Inc. CEO Jane Fraser said during the hearing that the bank is aiming to have about 30% of employees back in July with plans to ramp up from there. JPMorgan Chase & Co., which in April became the first major U.S. bank to mandate a return to office, is aiming for everyone to be back for half the time starting mid-July, CEO Jamie Dimon said.
JPMorgan is already asking people to come in now so they get comfortable, according to Dimon, who said that while he wants everyone to be vaccinated, his bank isn’t requiring that yet. JPMorgan this month reopened U.S. offices that had remained at least partially shuttered in the wake of last year’s coronavirus lockdowns.
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