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Barclays urges return to office amid market turmoil

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A spokesperson for Barclays declined to comment. The British bank’s market operators are already working more in the office (Image: Reuters/Toby Melville)

O Barclays asked its professionals Bank in investment who work in the office at least four times a week because worsening market conditions require more in-person collaboration.

Starting Oct. 3, the lender expects investment banking teams from around the world to return to the office Monday through Thursday, according to a memo sent to employees this week and seen by Bloomberg.

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“This approach will provide all of us with a better environment in which to collaborate on compelling client propositions and business execution,” said Barclays’ head of investment banking in the memo.

This feedback is especially important in the context of “tougher market environments, such as the current part of the cycle, where proactive engagement and thought-provoking content are most important to our customers.” It will also help in the development of younger professionals, according to the memo.

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A spokesperson for Barclays declined to comment. The British bank’s market operators are already working more in the office.

The bank said it will continue to “adopt a hybrid model”, noting that the pandemic has proven that flexibility can be a “natural part” of how teams operate.

The memo follows similar guidelines from banks such as Goldman Sachs, Morgan Stanley and JPMorgan.

Last week, Jefferies Financial Group urged employees to come to the office “more consistently” but added that it would not check badges and “has no problem” with employees working from home from time to time.

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Source: Moneytimes

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