UBS plans to allow up to two-thirds of its staff to mix working from home and the office on a permanent basis, betting the approach will give the Swiss lender an edge over Wall Street banks when recruiting.
The move to embrace a hybrid working model has been led by chief executive Ralph Hamers and his top managers, according to people familiar with the matter, and underlines the growing gulf with the more hardline approach adopted by many US banks.
The Swiss bank has decided that only employees whose roles are required to take place in the office due to supervisory rules or to carry out specific tasks, such as traders and branch staff, will have little or no flexibility in their working practices.
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