Work from home

Elon Musk’s demand that executives be present in the office carries an important message for bankers.

A recent survey indicated banks and other firms continue to grapple with the cybersecurity challenges of remote work. To defend their data, they’re looking far beyond the traditional VPN.

Employees will still have some flexibility to work from home, but are strongly encouraged to collaborate with colleagues in person, according to people familiar with the matter.

UBS Group will let some of its U.S. employees work remotely full time, offering flexibility to staff as it seeks to lure and retain talent. 

American Express said more than 40% of its U.S. employees have opted to work remotely on a full-time basis, double the number from before the pandemic. 

As return-to-office plans accelerate — with hopes they will stick this time —  many bosses are embracing new setups and perks meant to evoke the comforts of home. At Mizuho Americas, Bank of Montreal and Deutsche Bank, the changes have gone even further: New York workers came back from the pandemic to entirely different buildings. 

While Wall Street banks press employees to return to the office this month, its regulators in Washington are largely sticking with a flexible approach to remote work.

Wall Street executives are taking another crack at bringing staff back to the office. This time, they're hoping it sticks.

American Express is encouraging staffers in New York and the U.K. to start returning to the office next month as COVID-19 cases recede globally.

Deutsche Bank employees returned to the lender's headquarters in New York on Monday after working from home during the recent surge in COVID cases fueled by the omicron variant.