Finance

Proof of Covid-19 jab should be required for office return, say 43% of City staff

Nearly half of City workers believe that employees returning to the office should be forced to prove they have had a Covid-19 jab, as financial services organisations take an increasingly hard line on staff vaccinations.

Over 43% of 110 senior financial services professionals polled by Financial News said that staff should be required to divulge whether they have had their Covid-19 vaccination, compared to 46% of respondents who said they should not. However, 93% of those taking part in the survey said they had already had their shot as employers on Wall Street mandate vaccinations for staff in the office.

READ Goldman Sachs mandates vaccines for staff and visitors who want to enter its offices

Goldman Sachs told staff in a 24 August memo that all staff and visitors coming into its US offices would need to be vaccinated and that any employees who have not received the jab should continue to work at home. While the bank has not asked its UK-based employees to do the same, a voluntary poll of staff in the country in June showed that most have already had their Covid-19 vaccinations.

Credit Suisse has also said that only vaccinated staff will be allowed to return to its US offices from 7 September, according to a 24 August memo seen by Financial News.

Concerns over the growing numbers of Delta variant cases in the US have forced banks and financial services organisations to push back widespread returns to the office, with Credit Suisse, BMO Capital Markets, and Wells Fargo among those shifting plans from September into October.

“Throughout the pandemic, the only constant has been change. The Delta and other variants require agility and we may need to implement further changes based on how the situation evolves,” the Credit Suisse memo announcing the changes said.

READ Jefferies tells staff to get Covid-19 jab before coming back to the office

But Covid-19 vaccinations have moved from being strongly recommended to mandated among employees on Wall Street. Goldman joins Citigroup, Jefferies and Morgan Stanley in requiring staff to get the jab before returning to their offices. Meanwhile, BlackRock as well as professional services firm Deloitte have both mandated vaccines for employees in their US offices.

In the UK, companies have to tread lightly on Covid-19 vaccines. In February, Jefferies backtracked on a plan to require all City staff to have a jab before returning to its offices. Meanwhile, JPMorgan and Goldman have both strongly recommended a vaccine for employees in their London offices, rather than mandating a jab.

In FN’s survey, 60% of respondents said that they would be required to come back into the office regardless of their vaccination status.

To contact the author of this story with feedback or news, email Paul Clarke

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