JPMorgan wants people in the office but even Citi's CIO is hybrid
If you're looking for a hybrid technology role in banking, you've probably got your eye on Citi. As other banks pull staff back to the office full-time, Citi has maintained its hybrid working policy and this seemingly applies all the way to the top.
Click here to follow our new WhatsApp channel, and get instant news updates straight to your phone 📱.
Take Jonathan Lofthouse, for example. He's served as co-chief information officer of the bank for the past 17 months and, following the departure of Shadman Zafar, has just been promoted to sole CIO. Lofthouse says on social media that he will be working in a hybrid capacity for his same-but-new gig.
Citi allows its staff to work from home up to two days per week. This is on par with European banks like Standard Chartered and Barclays, the latter of which just increased its number of in-office days from two to three. Citi mandates five days in the office for some roles, including branch employees and some traders; while Lofthouse will presumably spend more time in the office than most, it's interesting that an executive doesn't fall into that full-time in-office category.
It's a different story at fellow US banks; Goldman Sachs and JPMorgan are both strictly anti-hybrid. JPMorgan CEO Jamie Dimon says he works in the office seven days per week and has had some... choice words for hybrid advocates in his bank.
The shift to RTO has been giving JPMorgan's technologists cause to leave; Business Insider reported last week that even very senior tech MDs in its CIB are evaluating their options. Recruiters have said that JPMorgan were well aware of this possibility when changing the policy, with some alleging that it was a deliberate move to oust costly hybrid workers.
Have a confidential story, tip, or comment you’d like to share? Contact: Telegram: @AlexMcMurray, WhatsApp: (+1 269 237 3950). Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)
Photo by Zach Ramelan on Unsplash
