Investment Banking

Barclays CEO says big City offices may be a ‘thing of the past’

Barclays boss Jes Staley said the bank is re-thinking its location strategy as coronavirus shifts work-at-home practices.

Barclays CEO says big City offices may be a ‘thing of the past’
Photo: Getty Images

Barclays chief executive Jes Staley said that large offices for banks "may be a thing of the past" as the world's largest financial services organisations prepare to shrink space in the wake of the Covid-19 crisis.

Speaking to reporters on 29 April as the bank reported first quarter earnings, Staley said: "There will be a long-term adjustment in how we think about our location strategy ... the notion of putting 7,000 people in a building may be a thing of the past."

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