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JPMorgan Chase will bring more of its trading personnel back to its New York headquarters starting next week, according to a person with knowledge of the bank’s plans.
Since the coronavirus pandemic took hold in New York in March, most of the company’s traders and salespeople have worked from home. JPMorgan kept about 20% of the division’s staff working from offices during the crisis, and beginning June 22, that figure will climb to as much as 50% by mid-July, said the person, who declined to be identified speaking about the bank’s plans.
Wall Street is on the cusp of reopening its trading floors amid what has been a historic run in markets. Last month, CNBC reported that Morgan Stanley and Goldman Sachs were planning to bring traders back in mid to late June.
At JPMorgan, the trading division will be an early test of how to safely ramp up attendance; other businesses have yet to announce their plans. Workers will have to wear masks in common areas, and desks will be marked with green or red stickers indicating where staff can sit, according to Bloomberg, which first reported the bank’s plans.