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.
The Arkansas-based company spent nearly four years on the M&A sidelines, grappling with asset quality issues and litigation tied to its 2022 acquisition of Texas-based Happy State Bank. Now it's signed a letter of intent to buy an unnamed bank.
The company cited efforts to improve profitability behind its decision, with Popular joining a line of other banks in ending mortgage operations in 2025.
Zelle's parent Early Warning Services said Friday it was planning to take its peer-to-peer payments network international through a new stablecoin initiative. It says the details will come later.
Nicolet Bankshares has agreed to buy MidWestOne Financial in an $864 million, all-stock deal. The acquisition will move the Wisconsin-based buyer into Iowa and the Twin Cities, while also allowing it to vault past a key regulatory threshold.