May 23, 09:30 PM

Barclays, Citi, and HSBC Mandate Five-Day Office Workweeks for 600 Staffers Due to New Finra Rules, Bloomberg Reports

Barclays, Citigroup, and HSBC are mandating that more employees return to the office five days a week due to new regulations from the Financial Industry Regulatory Authority (Finra). Barclays managers have warned employees to prepare for this change. HSBC's US CEO Michael Roberts stated that the bank's New York attendance has jumped to 80% at its new office in Hudson Yards. Citigroup has asked 600 US employees, who were eligible to work remotely, to return to the office full-time. This move is part of a broader trend among Wall Street banks to adapt to regulatory changes that make remote work more challenging for certain roles. Bloomberg reports that these mandates are also seen as a return to pre-pandemic rules.