JPMorgan Enforces Office Return, Opens $3B HQ While Asset Unit Buys Two-to-Five-Year Bonds
JPMorgan will require its 300,000 employees to return to its new $3 billion Manhattan headquarters after 2,000 signed a petition opposing the end of remote work, offering enhanced childcare and flexible start times to ease costs. Its Asset Management arm is buying US and UK two-to-five-year government bonds after yields soared.
1. CEO Insists on Office Return
Jamie Dimon has doubled down on ending remote work, mandating that 300,000 employees report full time to the firm’s newly opened $3 billion, 60-story Manhattan headquarters. The policy follows a 2,000-signature petition criticizing the rollback of hybrid arrangements and includes added childcare support and flexible start times to address higher commuting and family costs.
2. Asset Management Bonds Strategy
JPMorgan Asset Management is redeploying capital into shorter-dated US and UK government bonds, targeting the two-to-five-year segment after yields rose to multiyear highs. The global bond fund, which gained over 14% in the three years to February, sees value in assets oversold by inflation and rate-hike fears, while preserving liquidity for further market moves.