By Lananh Nguyen
(Reuters) -JPMorgan Chase & Co has asked its managing directors to work from office five days a week, the bank said in a memo.
“Our leaders play a critical role in reinforcing our culture and running our businesses,” the bank’s operating committee wrote in the memo seen by Reuters on Wednesday.
“They have to be visible on the floor, they must meet with clients, they need to teach and advise, and they should always be accessible for immediate feedback and impromptu meetings.”
The bank’s chief, Jamie Dimon, has been a vocal critic of work from home, saying the practice does not work for younger staff.
Others on Wall Street echo the sentiment. Since the COVID-19 pandemic started receding, banks have aggressively sought to revert to a pre-pandemic office environment even as some in the corporate world adopted hybrid work models.
JPMorgan employees eligible for a hybrid work model are still required to be in the office three days a week, the bank said, adding that there were “a number of employees” who were not meeting their in-office attendance expectations.
(Reporting by Niket Nishant in Bengaluru and Lananh Nguyen in New York; Editing by Arun Koyyur and Shinjini Ganguli)
