JPMorgan Chase (NYSE:JPM) asked that 50% of its investment bankers based in New York and London work from the firm’s offices on any given workday, Bloomberg reports, citing a person familiar with the matter.
That’s up from the 25% level it had set previously.
The increase starts today in London and tomorrow in New York, the person told Bloomberg News.
The bankers will work from home or the office on alternating weeks, according to the plan.
Meanwhile, Citigroup’s (NYSE:C) Europe markets chief Leonardo Arduini outlined plans for more workers to return to the bank’s Canary Wharf location in London, people familiar with the matter told Bloomberg. At present, ~20% of the markets staff is working from the London office, they said.
Previously: Goldman invites hundreds of senior London staff to return to office – FN (Aug. 27)