Citi Reverses Course, Invites Some Interns Into Office in July
Citi Reverses Course, Invites Some Interns Into Office in July
(Bloomberg) -- Citigroup Inc. will allow some of its interns to visit the lender’s New York headquarters after all.
The bank, which said in March that its 10-week summer program would be entirely virtual, this week invited interns from its trading and investment-banking divisions to visit the office for a few days in July, according to a memo seen by Bloomberg News.
“We have an engaging few days planned, from meeting with Citi colleagues, fellow interns, catching a baseball game and enjoying time together,” Citigroup said in the memo. “This is a great opportunity to build valuable relationships and launch your network within Citi.”
The company next month is planning to open its offices in New York City’s tony Tribeca neighborhood to as much as 30% of its broader staff. That’s what gave the Wall Street giant the ability to bring in interns for a few days.
Still, the New York-based bank billed the week-long visit as “completely optional,” and said there’s no obligation to come into the office at any point.
“The decision to visit the office will have no bearing on your offer decision,” Citigroup said in the memo.
The invitation went out to all U.S. summer interns in the firm’s markets and banking, capital-markets and advisory divisions, according to a person familiar with the matter. While most will have the option to work in New York, about a fifth of the investment-banking interns have been invited to work from Citigroup’s offices in Houston, Chicago or San Francisco, said the person, who asked not to be identified discussing personnel information.
The change of course shows just how quickly Wall Street’s biggest employers have been reacting to the drop in coronavirus cases nationally as well as the proliferation of vaccines. Goldman Sachs Group Inc. asked its staff, including summer interns, to begin working from its downtown Manhattan headquarters again this week, marking the most ambitious return among major Wall Street firms.
Citigroup’s interns have until Monday to inform the bank of their intentions. Travel and hotel stays will be covered by the bank.
“Welcome to Citi,” the firm said in the memo. “Your health and safety remain our top priority.”
©2021 Bloomberg L.P.