As Covid-19 infections drop, wirehouse advisors get a glimpse at their work environments for the upcoming months.
According to the Washington Post, the average number of cases in the United States was 153,029 per day as of Monday. This number is lower than the pandemic peak of 807,897 on January 22.
Merrill Lynch, Morgan Stanley, UBS Wells FargoStaff are being taught how to return to work.
After previously delaying the date, Wells Fargo has now set a mid March deadline for its return. The wirehouse will be bringing most of its staff back into the office on March 14. Most of them will work on a hybrid approach going forward.
The next months will be business as usual for many of Wells Fargo’s 12,400 advisors.
Many of our customers are happy to share their experience with us. [Wells Fargo Advisors]According to a spokesperson for Wells Fargo, branch offices have been open throughout the period and most have been back at full staffing for several months.
During the pandemic nearly 100,000 bank employees travelled to the office. All locations of the company were available to vaccinated employees on an individual basis.
Vaccinated Wells Fargo staff have been cleared to travel, visit clients, and participate in business meetings. Reuters, Bloomberg, and Bloomberg report.
UBS continues its support for flexible working for employees.
Chief Executive Officer at UBS Ralph HamersHe has been a vocal advocate for hybrid working. Hamers, in an opinion piece published in Time magazine last year, described the pandemic for the financial sector as a wake-up call that required the industry to rethink how it does business.
Hamers in August stated that UBS employees are just as productive working remotely from home as they are at the office. Hamers cited the firm’s results for the fact that nearly two-thirds UBS staff could work remotely.
In June, the CEO stated [t]Raders are clearly part the 25% to 30% of roles that it is difficult to work remotely for. Many of the remaining roles within the company can be performed in a hybrid setting. Hamers stated that between two-thirds and 75% of our roles can be done remotely.
Merrill Lynch claims that its employees are returning to work.
A spokesperson said that we are slowly returning employees to work after reviewing local data and following expert guidance from medical experts. Merrill Lynch doesn’t have a mandate for vaccines, but the spokesperson said that the firm strongly encourages its employees to get fully vaccinated.
The wirehouse stated last month that it will donate $100 for each U.S. employee who either informs the bank of their vaccination status or receives a booster by February 31st. According to the bank, the total effort could generate $10 million in donations. The spokesperson said that this builds on the parent company. Bank of AmericaThe commitment to combating hunger has seen more than $150 million donated to it since 2015. [The initiative also]The spokesperson said that they support the safety and health of our employees.
Morgan Stanley is encouraging staff members to return to the office in accordance with guidance from medical authorities and government officials. The firms’ return to office plans and timings vary by division, business, team, and geography.
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