Working remotely

Remote working is not suitable for young employees and those looking to move forward and develop. That was the view expressed by Jamie Dimon, chief executive of JPMorgan Chase banking group, at a meeting of chief executive officers hosted by The Wall Street Journal in New York on Tuesday.

"This format doesn't work for those who are looking forward. It's not conducive to spontaneous idea generation. It's not conducive to corporate culture", he said.

Dimon added that with the lifting of coronavirus restrictions in New York, he intends to start bringing employees back into the office from 17 May, initially for a few days a week. "In September or October, in my opinion, everything will be back to normal and everyone will be happy with that", he continued.

The JPMorgan Chase chief noted that not all employees were happy about the plans to return to the office, but, he said, "that's life". Dimon believes the bank will be more successful if it returns to a face-to-face format.

On Monday, New York Governor Andrew Cuomo announced that state limits on the number of people on the premises or at events would be lifted as of 19 May. The exceptions will be large sports arenas. In effect, this means an opportunity to return to the pre-pandemic operating format.