BofA brings employees back to some U.S. offices as Covid cases decrease

BofA brings employees back to some U.S. offices as Covid cases decrease
As coronavirus conditions improve across the country, employees across major financial firms are being asked to come back.
JAN 25, 2022
By  Bloomberg

Bank of America Corp. is bringing employees back to offices in U.S. regions where new coronavirus cases have started to decline.

The bank’s staff have returned or are making their way back in the coming weeks based on their region’s Covid-19 data and medical guidelines, according to people with knowledge of the plans. Previously, the company had told employees to work remotely through at least the third week of January, and until they’re advised to come back.

A Bank of America representative declined to comment.

As coronavirus conditions improve across the country, employees across major financial firms are being asked to come back. Citigroup Inc. staffers in the New York City region and Credit Suisse Group AG’s workforce across the U.S. are being urged to return to offices in early February. In New York City, the percent of people testing positive for Covid-19 is decreasing, with a daily average of 8,269 cases in the past week.

Wall Street firms including Charlotte, North Carolina-based Bank of America started giving employees more flexibility to work from home at the end of 2021, as the highly contagious omicron variant emerged, and then urged them to do so as Covid-19 infections soared once again.

Staffers in Bank of America’s markets unit, including sales and trading, are gradually returning to offices in New York City, one of the people said. That effort is expected to ramp up and expand to other groups and additional locations as the bank sees new Covid-19 cases continue to decline.

While Bank of America has no vaccine mandate, the company is encouraging employees to be fully vaccinated, including having booster shots, before returning to the office.

Student debt is fastest-growing type of non-mortgage debt

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.