Working from home has been surprisingly successful for global banks during the first year of the coronavirus pandemic but is losing its effectiveness, two prominent industry executives said on Tuesday at a virtual meeting of the World Economic Forum. “It’s remarkable it’s working as well as it is, but I don’t think it’s sustainable,” said Barclays Chief Executive Jes Staley. Mary Erdoes, who runs asset and wealth management for JPMorgan Chase & Co, added, “It is fraying. It is hard.” For employees to focus, Erodes said: “It takes a lot of inner strength and sustainability (without) the energy that you get from being around other people.” Staley said: “It will increasingly be a challenge to maintain the culture and collaboration that these large financial institutions seek to have and should have.” He predicted that more people would come back to offices to work, but with flexibility to work from home. Erdoes said executives believed that part of the initial success of working from home was due to adrenalin from having to adapt so quickly. Now, she said, executives were facing the likelihood that COVID-19 and its variants would persist for a long time. “The world is going to have to… Read full this story
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