And although there’s talk of banks requiring employees to show proof of vaccination, Goldman Sachs has drawn its line in the sand. The investment bank is barring employees from using their ID cards to enter the office building if they haven’t submitted proof of their vaccination status, a spokesperson for the company told Fintech Zoom Business.
“If you do not report your vaccine status to Goldman, your ID card will not work to enter the building,” a spokesperson for the company told Fintech Zoom Business. “The entrance of the building is contingent on you reporting your vaccine status,” the spokesperson added.
Unvaccinated employees are required to get a rapid Covid-19 test on site at the Goldman Sachs office and will be tested regularly, the spokesperson said. Employees who test positive will immediately be asked to leave the building.
How other banks are handling the return to work
Citibank employees who are vaccinated can submit their vaccine cards, and employees who are not vaccinated are required to test three times per week with an at-home rapid test. After taking the test, the employees upload their results to the test’s app for their employer to see.
Barclays declined to comment on its vaccine policy.
JP Morgan Chase, UBS, HSBC did not respond to Fintech Zoom’s request for comment.
Wall Street’s push for the office
Morgan Stanley CEO James Gorman and Bank of America CEO Brian Moynihan, for example, both made it clear that they’re expecting their employees to return by Labor Day — a date that is quickly approaching yet might become a moving target as the Delta variant continues to spread.
The rush to get back to the office is due, in part, to work cultural concerns, as Zoom calls and Slack messages are no substitute for in-person meetings and training. Others worries center on cybersecurity and risk management vulnerabilities inherent in businesses that conduct billions of dollars of transactions every day.
At its core, banking is a highly interactive business — and no one on hyper-competitive Wall Street wants to lose a deal because of a slow WiFi connection.
— Fintech Zoom’s Matt Egan contributed to this report