President Trump lauded JP Morgan Chase on Friday for calling its top trading staff back to the office. “Congratulations to JPMorgan Chase for ordering everyone BACK TO OFFICE on September 21st. Will always be better than working from home!” said Trump in a tweet.
Congratulations to JPMorgan Chase for ordering everyone BACK TO OFFICE on September 21st. Will always be better than working from home!— Donald J. Trump (@realDonaldTrump) September 11, 2020
JP Morgan Chase has reportedly ordered its traders back to Wall Street trading floors by Sept 21. According to a report in the Wall Street Journal, employees with child care issues or conditions that might make them more vulnerable to Covid-19 may work from home, but everyone else is expected to be at work.
Per the same report, JP Morgan struggles with a coronavirus outbreak in mid-March. The outbreak sickened more than a dozen people on the fifth floor of its Madison Avenue office.
Technological Hurdles for Remote Trading Operations
Trading remotely is challenging for Wall Street. There were technology hurdles that needed to be overcome with many hedge funds pointing out to me the difficulties some of the large institutions might have as they attempted to work remotely. But, as the world has learned, American businesses and the American people are remarkably resilient — and even the world’s biggest Wall Street firms that were loaded with technological hurdles found a way to get this done.
Nonetheless…for JP Morgan anyway, it’s back to school and back to work.