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Blackrock is ordering the upper managers to return to the office five days a week in the last sign that the large financial services groups are adjusting their flexible work policies.
The world’s largest asset manager is to tell the staff as early as Thursday that their approximately 1,000 managing directors worldwide are expected to work from the office to full time, according to two people familiar with the plans. Blackrock declined to comment.
Blackrock, based in New York, hardened its rules on office assistance in 2023, requiring that the staff attended At least four days a week. But it is likely that the last movement causes annoying among a superior staff who has become accustomed to working from home one day a week, said one of the people.
The decision reflected the company’s desire to strengthen collaboration and ensure that managing directors are leading teams in person to better serve customers, said the second person familiar with the plan. More Junior staff can continue working from home one day a week.
Black rockThe executive president, Larry Fink, has previously expressed concern that working from home can erode corporate culture, echoing the rival bosses of Wall Street who are eager to see their teams back to commercial floors and in their offices with customers.
The asset manager joins other large financial services groups in the United States such as JPMorgan in reduction flexible work Policies, and the United States bank already told its management directors to return to the office five days a week. Several great banks, including Goldman Sachs, have also told staff that will be in the office during the week.
Many companies have preserved some flexible work arrangements since the end of the pandemic, but some of the largest in the world, including Amazon, have ordered the staff to return to the office five days a week.
Blackrock has about 22,000 employees in more than 30 countries and $ 11.6TN in assets under administration.