SEC Chair Is Fine With Remote Work Despite Push Back From Wall Street
- SEC Chairman Gary Gensler was asked about remote work in an interview with CNBC on Friday.
- His employees are under a voluntary remote work policy — “that’s where we’re at,” Gensler said
- Other Wall Street executives are not keen on working remotely, the report said.
As Wall Street executives continue to discuss office work — and the return of some stressed workers — SEC bosses haven’t given up on remote work.
SEC Chairman Gary Gensler said in an interview with CNBC Friday Zoom interview His employees are doing well while working remotely.
Gensler acknowledged the benefits of being in the office for David Faber, but said his employees can choose where they want to work.
“We’ve worked with our negotiating units, union representatives, and we’ve moved to voluntary remote. That’s where we’re at,” Gensler said.
JPMorgan Chase CEO Jamie Dimon made headlines for his views on remote work, which he countered during a client call in August, according to Insider’s Hannah Towey.
He reportedly criticized the way of working, saying “Slow down honesty and decision-making,” the report said.
According to the New York Post, job security on Wall Street suffers as incomes fall. In July, both JPMorgan and Morgan Stanley reported “surprisingly sharp declines in profits,” the report said.
Gensler had no further comment on the topic, although remote work remains a topic within the private sector.
A banking source explained Wall Street’s old perception of job security. “In the ’80s, we had a proverb on Wall Street: If you’re sitting at your desk, they can’t take your desk away from you.”