JPMorgan Chase told its managing directors that they now must be in the office every weekday, ending a
"Our leaders play a critical role in reinforcing our culture and running our businesses," the bank's operating committee said in a memo to staff. "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. We need them to lead by example, which is why we're asking all managing directors to be in the office five days a week."
Wall Street firms, like companies throughout corporate America, are rethinking their work-from-home rules as the COVID-19 pandemic recedes. At New York-based
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"Most of you are following your hybrid models, but there are a number of
One motivation for bringing workers back to the office might be the new headquarters JPMorgan is building on Park Avenue in midtown Manhattan. The 60-story skyscraper, which will house as many as 14,000 employees, will have yoga and cycling rooms, meditation spaces, an abundance of outdoor areas and a state-of-the-art food hall.
"JPMorgan Chase has been in the city for 200 years, and this is the headquarters of JPMorgan, in the best city in the world, in the best country in the world," Chief Executive Officer Jamie Dimon said at an event at the site a year ago.