Jupiter Asset Management is requiring its London staff to work from the office five days a week, bucking the trend among City rivals who are relaxing their working rules for the summer.
Jupiter's strict policy
The asset manager told employees in an internal memo that it expects all staff to be in the office every day from June to August, according to a person familiar with the matter. The policy applies to all employees, including senior management.
Jupiter's stance contrasts with many other financial firms in the City that allow more flexible working arrangements during the summer months, such as early finishes on Fridays or additional remote working days.
City rivals take different approach
Several major banks and asset managers have introduced summer working policies that permit staff to leave early on Fridays or work from home more frequently. For example, some firms allow employees to finish at 1pm on Fridays during July and August.
Jupiter's decision comes as the debate over remote working continues in the financial sector. While some firms are pushing for a full return to the office, others are embracing hybrid models to attract and retain talent.
Impact on staff and culture
According to the memo, Jupiter believes that being together in the office fosters collaboration, innovation, and a strong company culture. The firm also noted that client-facing roles require a physical presence.
However, some employees may be disappointed by the lack of flexibility, especially as other firms offer more lenient summer schedules. A spokesperson for Jupiter declined to comment on the policy.
The move highlights the ongoing tension between traditional working practices and the desire for flexibility that has become more prevalent since the pandemic. Jupiter's approach may set a precedent for other firms considering a stricter return-to-office policy.
