JPMorgan Chase is reportedly considering a full return to office policy, making it the latest major financial institution to move toward pre-pandemic workplace norms.
Bloomberg News revealed on Tuesday that the nation’s largest bank by assets is developing a policy that could end remote work entirely. Although the policy has yet to be finalized and remains subject to change, this potential shift would align with recent moves by other corporate giants, such as Amazon, which recently mandated a five-day, in-office schedule for its workforce.
A JPMorgan spokesperson declined to comment on the specifics of the bank’s evolving plans but noted that approximately 70% of its 316,000 employees were already working in the office five days a week. The remaining employees are currently following hybrid schedules, spending three to four days in the office.
Dimon’s Strong Stance on Office Presence
JPMorgan CEO Jamie Dimon has long been vocal about his disapproval of extensive remote work. His stance reflects broader concerns within the financial services sector about productivity, collaboration, and culture. Dimon has consistently pushed for more in-person work, viewing it as essential to JPMorgan’s long-term performance and operational effectiveness.
In a September 2024 discussion with The Atlantic, Dimon criticized the federal government's remote work policies and lamented the state of empty office buildings in Washington, D.C.
“When I visit D.C., I’m struck by the empty buildings,” Dimon remarked. “It bothers me. You can’t have people working for you but not showing up at the office. I don’t allow that.”
Timeline of JPMorgan’s Return-to-Office Policy
JPMorgan’s evolving approach to in-office work reflects broader market trends, balancing flexibility with the growing preference for office-centric work in finance. Below is a timeline of key milestones in the bank’s return-to-office strategy:
July 2021:
JPMorgan initiated its phased return-to-office plan, starting with client-facing teams and revenue-generating roles in bank branches, investment banking, and trading.
April 2022:
In his annual letter to shareholders, Dimon outlined a new hybrid work policy. He indicated that 40% of employees would be eligible to work remotely for part of the week, while 10% of the workforce—mostly in tech and support roles—could work remotely full-time. The remaining 50% of employees, including investment bankers and senior operations staff, were required to be in the office five days a week.
April 2023:
Dimon tightened the policy further, mandating that all managing directors return to a five-day, in-office schedule. This directive applied across all functions, from revenue-producing roles in sales and trading to support areas such as technology, legal, and compliance.
January 2025:
Bloomberg reported that the bank is now considering eliminating remote work entirely, signaling a possible shift toward a uniform, five-day office presence for all employees.
Implications for the Financial Industry
JPMorgan’s potential move to a full in-office policy could set a new standard for the financial services industry. As the largest U.S. bank, JPMorgan’s workplace policies often influence broader industry practices, particularly among regional banks and competing firms looking to retain top talent and maintain productivity benchmarks.
However, returning to a full in-office schedule comes with challenges. The shift could lead to higher employee turnover in non-revenue roles, where flexibility has become a key benefit in retaining top-tier talent. Wealth advisors and RIAs, in particular, have seen clients and employees gravitate toward firms that embrace hybrid models, offering a competitive edge in recruiting and retention.
Yet, proponents of full office returns argue that in-person collaboration fosters innovation, strengthens client relationships, and supports a more cohesive company culture. Dimon has repeatedly emphasized the importance of spontaneous problem-solving and mentorship that occur organically in an office setting.
Preparing for Broader Industry Shifts
For wealth advisors and RIAs navigating their own workplace policies, the implications of JPMorgan’s approach are clear. Firms must evaluate how office attendance impacts both client service and internal team dynamics. While smaller firms may have the flexibility to adopt hybrid work environments, larger institutions with national footprints may feel pressure to standardize their approach to remain competitive.
Moreover, wealth advisory teams with institutional clients may face heightened expectations for face-to-face engagement as firms like JPMorgan normalize in-office operations. Advisors should consider whether an increased physical presence can strengthen client relationships, particularly in high-stakes planning and portfolio strategy meetings.
Future Considerations
If JPMorgan fully mandates a five-day return, the ripple effects could reshape how other financial institutions approach their return-to-office strategies. Firms looking to differentiate themselves in this environment should weigh the operational benefits of in-person work against the evolving expectations of both employees and clients.
Ultimately, as RIAs and wealth management firms assess their workforce strategies, they must account for both the competitive landscape and the enduring lessons from the pandemic era. Flexibility and culture remain key factors in attracting and retaining top talent, but so too is the ability to foster deep client connections—a cornerstone of the advisory business.
In an industry built on trust, collaboration, and personalized service, leaders must carefully balance these priorities to drive sustainable growth and maintain their competitive edge.
