The Great Reboot

Swiss bank UBS to let most staff adopt hybrid working

2 minute read

The logo of Swiss bank UBS is seen at a branch office in Basel, Switzerland, March 29, 2017. REUTERS/Arnd Wiegmann/File Photo

ZURICH, June 28 (Reuters) - UBS Group (UBSG.S) will allow most staff to mix remote working with time spent in the office, Switzerland's biggest bank said on Monday, taking a more relaxed approach than some of its Wall Street rivals.

"We are committed to offering our employees the flexibility for hybrid working where role, tasks and location allow," UBS said. "Hybrid work options will be introduced on a country-by-country basis, with timing dependent on the local pandemic situation."

The Financial Times said the policy could allow up to two thirds of UBS staff adopt the hyrbid working model.

Swiss rival Credit Suisse (CSGN.S) also said it was planning changes.

"It is our aspiration to meet the requirements of our employees for a flexible and future-oriented working environment. In developing more flexible working models, we have taken into account the lessons learned during the pandemic," the bank said, adding it would announces the changes soon.

By contrast, the chief executive of U.S. bank Morgan Stanley (MS.N), has said he expects most of the company's workers at its Manhattan headquarters to return to the office by September.

JPMorgan Chase & Co (JPM.N) and Goldman Sachs (GS.N), meanwhile, have begun bringing employees back to their U.S. offices and American Express (AXP.N) will allow most employees to work from home for up to two days a week. read more

Reporting by Michael Shields Editing by David Goodman

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