Swiss bank UBS will allow two-thirds of its workers to mix remote and in-office work, a stark contrast to Wall Street competitors that have called their employees back to the office, according to the Financial Times.
The lender expects this approach will give it an advantage over Wall Street banks in recruiting, according to the newspaper.
UBS undertook an analysis of its global workforce of 72,000 employees and found that about two-thirds would be able to follow a hybrid-work scheme. Other workers, such as traders and branch staff, would not have that flexibility.
UBS joints other European banks such as France’s Société Générale and the UK’s HSBC and Standard Chartered in allowing staff to work off premises. In comparison, U.S. banks such as JPMorgan Chase, Goldman Sachs and Morgan Stanley have required New York staff to come back to the office.