Citigroup is calling vaccinated staff in the U.S. back to the office for at least two days a week starting the week of March 21, according to the New York-based bank’s head of human resources.
“Although COVID-19 may never fully go away, we are seeing promising developments,” Sara Wechter said in a post shared to LinkedIn, citing declining case numbers. “These factors have led Citi to decide to move ahead with return to office efforts at all our remaining U.S. locations.”
Citigroup headquarters in New York, U.S., on Friday, Jan. 7, 2022. Citigroup Inc. was the first major Wall Street bank to impose a strict Covid-19 vaccine mandate: Get a shot or face termination. With its deadline fast approaching, the company is preparing for action.
Victor J. Blue/Bloomberg
Wall Street banks for months have pushed for employees to come back to workplaces emptied by the pandemic. Citigroup Chief Executive Jane Fraser has championed a more flexible approach to work.
In its latest financial stability report, the Federal Reserve found that asset prices continue to exceed underlying fundamentals and leverage levels remain high, especially by hedge funds.
The Consumer Financial Protection Bureau's exit from a suit jointly filed with the New York attorney general's office narrows a major subprime lending case.
Ranjana Clark is the newest member of Texas Capital Bancshares' board of directors; Minnesota's Wings Credit Union and Colorado's Ent Credit Union are merging; Regions Bank adds Angela Santone to its C-suite; and more in this week's banking news roundup.
The Long Island-based regional bank, which reported another quarterly loss Friday, continues to hire in the commercial-and-industrial lending sphere as it seeks to diversify its commercial real estate-heavy business.