UBS CEO Says It’s Hard to Sustain Culture Working at Home

(Bloomberg) — UBS Group AG Chief Executive Officer Sergio Ermotti added his voice to a chorus of finance executives concerned about having so many employees working remotely.

It’s especially difficult for banks to create and sustain cohesiveness and a culture when employees stay at home, he said at a Bank of America conference on Tuesday. A rate of 85% of people working remotely is “not sustainable” for banks and a normal level for UBS should be about 20% to 30% at any time.



Sergio Ermotti wearing a suit and tie: Day Three Of The World Economic Forum (WEF) 2020


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Day Three Of The World Economic Forum (WEF) 2020

Sergio Ermotti

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Photographer: Simon Dawson/Bloomberg

JPMorgan Chase & Co. CEO Jamie Dimon said last week that he sees prolonged remote work inflicting serious social and economic damage, while BlackRock Inc. Chief Executive Officer Larry Fink said he worries that working remotely results in a lack of productivity and collaboration.

While some big Wall Street

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