Financial institutions will take many months to return to their offices, with some considering that up to a third of their employees will remain more permanently off-site, according to a recent Deloitte report. In the meanwhile, financial services firms are facing real estate circumstances unique to the industry that will also factor into their return plans.
The accounting firm's report cited a mid-April survey by Deloitte of 100 senior financial service industry executives with responsibility for crisis management and business continuity planning. That survey showed at least half of respondent firms were developing COVID-19 operational contingency plans spanning at least the next three months.
Deloitte noted that many financial industry leaders are still in the early stages of developing return-to-workplace strategies. From office towers to data centers to bank branches, the industry is the second largest in terms of office space leasing, accounting for more than 15% of total office leasing activity, the report said.
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Christine Simmons
Christine Simmons writes about the New York legal community and the business of law. Email her at [email protected] and find her on Twitter @chlsimmons
