Office workers and commuters walk through Canary Wharf in London (Victoria Jones/PA)
(Picture: PA Wire)A veteran City of London boss says would-be traders should be prepared to keep coming into the office and working long hours, despite the new vogue for flexible working.
Andrew Monk, CEO of VSA Capital, said flexible working “wouldn’t end well” for City firms like his.
He told the BBC’s Today programme: “If that’s the sort of lifestyle you want, then don’t come in to the City, which is fairly high powered and long hours. You’re probably in the wrong job anyway.”
Monk added: “We’re much more productive when we are all in the office together. We have quite clear proof. Where we do fundraising, when we have one-on-one meetings with clients, we raise far more money than on Zoom calls.”
His views chime with those of BT boss Philip Jansen, who told the Standard last month: “If you are never in the office, you won’t make it around here.”
In May, JP Morgan boss Jamie Dimon said working from home was bad for business and bad for young people and those who “hustle”.
“People don’t like commuting, so what?” he said.
Monk, who has run VSA since 2009, said he was keeping his office open with a “skeleton crew” after new government guidelines came into force today on working from home. He hit out at the rules and said his staff prefer to be in the office.
“I’m not very happy with it,” he said. “It’s a bit absurd that this time last year you were told: go to work but don’t party. Now we’re being told: party but don’t go to work. It doesn’t make sense does it.
“We’ve got all our staff back and they’re actually very happy to be back. They’re disappointed that they are being told, sorry, you’ve got to work from home if necessary.
“We are following the government’s guidelines but it’s obviously disappointing.”
