Citigroup Inc. has one of the more flexible policies on Wall Street when it comes to remote work. But if a worker’s productivity dips, they can expect to spend more time in the office.
“You can see how productive someone is or isn’t, and if they’re not being productive we bring them back to the office, or back to the site, and we give them the coaching they need until they bring the productivity back up again,” Chief Executive Jane Fraser said Tuesday at a Bloomberg event at the World Economic Forum in Davos, Switzerland.
Fraser has offered most staffers the ability to work remotely at least some of the time on a permanent basis, with most Citigroup employees expected to be in the office three days a week. The CEO has said parts of Wall Street’s insistence on full-time office attendance feels dated, arguing in an interview with Fortune last month that workers will “vote with their feet” on such policies.
Citi’s experience of remote work has underlined the importance of flexibility but also the value of in-person collaboration and coaching. But there was no need to go back to a working model from the 1980s, Fraser said.
“There’s an important balance here,” she said. “We’re going to have keep listening to our people and getting that balance right but if you don’t listen to them, you’re in danger of having some problems.”
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
