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.
Pew survey reveals slight majority consensus on tax rates, but views splinter based on political alignment and income levels.
While the Federal Reserve's decision to hold interest rates steady in March was widely expected, it's the reactions from financial professionals that provide a more nuanced picture of the central bank's approach.
The pioneering member of Canada's Maple Eight is stepping back from its go-it-alone private equity approach as a drought in deals and Trump's trade war prompt a rethink.
The firms' latest additions in Florida and Nevada come as a strategic change at UBS raises risk of advisor defections.
The new program offers opportunities and events structured for rookies, next-gen advisor leaders, and soon-to-exit veterans.
In an industry of broad solutions, firms like intelliflo prove 'you just need tools that play well together'
Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies
