UBS, Switzerland’s largest bank, is implementing stricter work-from-office policies, aligning itself with global banking rivals that are rolling back remote work flexibility. The bank has instructed its employees to work from the office at least three days a week and has introduced a new rule prohibiting remote work on consecutive Fridays and Mondays.
The new policy, first reported by Finews, was communicated to UBS’s 115,000 employees through an internal memo last week. UBS, which had previously allowed more flexibility compared to competitors like JPMorgan Chase and Goldman Sachs, is now following the approach taken by Deutsche Bank, which banned remote work on Mondays and Fridays last year.
Office Presence to Boost Productivity and Collaboration
A UBS spokesperson told Fortune that the bank follows an “office-centric” work model with some flexibility. “Spending enough time in the office with colleagues fosters innovation, collaboration, and team productivity,” the spokesperson said. The same message was shared internally with employees.
This shift mirrors Deutsche Bank’s 2024 policy, which required staff to work in the office for at least three days a week while banning remote work on Mondays and Fridays. The changes were made official through an agreement with labor representatives in Germany, extending the stricter office attendance rules to employees in most locations.
JPMorgan and Goldman Sachs Enforce Full Office Return
Other major banks have gone even further in restricting remote work. JPMorgan Chase, the largest bank in the U.S., ended work-from-home entirely this month, requiring employees to work in the office all five days of the week.
JPMorgan CEO Jamie Dimon has been vocal against remote work flexibility. During a recent town hall meeting, when employees asked management to reconsider the strict office attendance rule, Dimon dismissed their concerns outright. “Don’t waste time on it. I don’t care how many people sign that f***** petition,” he reportedly said.
Goldman Sachs has also mandated a full return to the office, emphasizing the need for in-person interactions to maintain productivity and teamwork.
A Growing Trend Among Global Banks
The tightening of remote work policies across global banks reflects a broader shift in the financial sector. Many banks believe that an in-office work culture strengthens collaboration, mentorship, and overall business performance. UBS’s latest decision reinforces this trend, signaling that flexibility in remote work may continue to shrink in the banking industry.
With UBS, Deutsche Bank, JPMorgan Chase, and Goldman Sachs leading the way, it remains to be seen whether other financial institutions will follow suit in imposing stricter office attendance rules.
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