8.6 C
New York
Sunday, June 16, 2024
Home Industry The end of the skyscraper era? Barclays CEO says 'putting 7,000...

The end of the skyscraper era? Barclays CEO says ‘putting 7,000 people in a building may be thing of the past’

Barclays CEO Jes Staley claims that the COVID-19 pandemic could permanently change how banks and their employees do business in the future.

Banks, which like many companies worldwide have seen the majority of its staff work from home offices, will not revert fully to its pre-January working habits, Staley said.

Read also: NatWest announces Jen Tippin to be the new Chief Transformation Officer

“There will be a long-term adjustment in how we think about our location strategy…the notion of putting 7,000 people in a building may be a thing of the past,” he told reporters after the bank reported a fall in first-quarter profits.

Staff including investment bankers could work instead from branches as well as other locations, he added.

The CEO informed Barclays plans to reopen its Hong Kong office first. Then it will open other Asian offices in Singapore and Tokyo, with European openings coming later.

Read also: Revolut has just lost two more executives

These comments by the boss of one of Britain’s biggest banks show how business leaders are contemplating making possibly permanent alterations to work methods.

Banks worldwide have in recent years increasingly shifted many staff away from expensive skyscrapers in financial hubs, but Barclays and its rivals still pack thousands of workers each into single offices in London’s Canary Wharf financial district.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

NEW Revolut UK CEO to make Conference Debut at MoneyLIVE Summit

MoneyLIVE has today announced that Revolut’s newly appointed UK CEO will be making her conference debut at MoneyLIVE Summit 2024, which is...

2024’s Financial Innovators: A New Era of Banking Startups 

In the wake of the COVID-19 pandemic, our world witnessed an unprecedented shift towards digitalization. The banking industry, in particular, has been...

C-suite Banking and Payments Leaders From Across Europe Set to Meet at London’s MoneyLIVE Summit in March

On the 6-7 March 2024 MoneyLIVE Summit will return to London’s QEII Centre to unite over 1000 banking and payments leaders from...

The Evolution of Digital Wallets: A Shift from Physical Cards by 2030

By 2030, we can expect digital wallets to become the preferred payment instrument, offering a myriad of non-payment-related services for consumers.