Citigroup keeps hybrid work as Wall Street returns
NEW YORK, UNITED STATES — Citigroup is maintaining its flexible work policy, allowing most employees to work remotely two days per week, even as other major Wall Street firms push for full office returns.
CEO Jane Fraser recently reaffirmed the bank’s commitment to hybrid work during a mid-January quarterly call with managing directors.
Strategic advantage in talent war
The bank sees its flexible work policy as a competitive edge in attracting and retaining talent. Under the current arrangement, most Citigroup employees can work remotely for two days per week, although traders and branch staff must maintain a full office presence.
Swimming against the current
This stance contrasts with industry peers and government directives. JPMorgan Chase recently mandated five-day office attendance starting in March, while Barclays increased its in-office requirement to three days weekly.
The Trump administration has similarly pushed for federal employees to return full-time, offering severance packages to those unwilling to comply.
Despite maintaining its hybrid approach, Citigroup isn’t completely hands-off. The bank implemented security pass tracking in August 2023 to ensure compliance with the three-day minimum office attendance. Additionally, some investment banking divisions reportedly experience informal pressure for a four-day office presence.
The bank’s commitment to office space remains evident in its ongoing £1 billion ($1.2 billion) renovation of a Canary Wharf tower, scheduled for completion in 2026. While competitors argue that full-time office work is crucial for collaboration and mentoring younger bankers, Fraser’s stance on flexible work appears unwavering since her appointment as CEO in March 2021.
