The bank’s internal analysis shows that two-thirds of its workforce were in positions suitable for hybrid working, while some roles, such as traders and branch staff, will have to work from site, the person said. No date for a return to the office has been set, the person said.
An official at UBS declined to comment. The Financial Times reported the plans earlier.
The move by UBS sets a stark contrast between the Swiss lender and many of its U.S. rivals. Goldman Sachs Group Inc. has required almost all U.S. employees to report to their desks, JPMorgan Chase & Co. is asking most of its U.S. workers to start regular office schedules July 6, while Morgan Stanley Chief Executive Officer James Gorman fired off a warning shot: “If you can go to a restaurant in New York City, you can come into the office and we want you in the office.”
Citigroup Inc. has also told most workers that they can adopt a hybrid schedule between home and the office longer term.
Among European lenders, Deutsche Bank AG told U.S. investment bankers that it expects them back in the company’s offices by early September.
Dealing with a global workforce also poses the challenge of a more universal corporate policy with new waves of the outbreak prompting lockdowns and other restrictions across the world.