London Daily

Focus on the big picture.
Wednesday, Feb 11, 2026

Goldman Sachs: Bank boss rejects work from home as the 'new normal'

Goldman Sachs: Bank boss rejects work from home as the 'new normal'

Goldman Sachs boss David Solomon has rejected remote working as a “new normal” and labelled it an “aberration” instead.

Mr Solomon said the investment bank had operated throughout 2020 with “less than 10% of our people” in the office.

His eagerness for workers to return to the office is at odds with many other firms, who have suggested that working from home could become permanent.

Mr Solomon suggested that it does not suit the work culture at Goldman Sachs.

“I do think for a business like ours, which is an innovative, collaborative apprenticeship culture, this is not ideal for us. And it’s not a new normal. It’s an aberration that we’re going to correct as soon as possible,” he told a conference on Wednesday.

"I'm really not looking forward to going back into the office," Tom, a 35-year-old who works in urban planning, told the BBC.

He has enjoyed being more involved with his young children during the pandemic. But his employer is quite "stubborn" about wanting him back in five days a week.

"I have found the lack of understanding and support from the older generation of directors, as well as their eagerness to just go back to offices and not learn lessons really difficult."

He says his employer seems to assume there will be someone at home to cover childcare and other day-to-day demands, whereas the tech industry, where his wife works, allows more flexibility.

Tom is now looking for a new job that will offer him more choice.

"The best-case scenario for me would be two days in the office - to get that connection with colleagues - and two to three days at home."

In particular Mr Solomon was worried about an incoming “class” of about 3,000 new recruits, who wouldn’t get the “direct mentorship” they need.

“I am very focused on the fact that I don’t want another class of young people arriving at Goldman Sachs in the summer remotely,” he said.

Although he thought the Covid-19 pandemic had helped push the adoption of digital technologies and created ways for the investment bank to run more efficiently, Mr Solomon thought it would not lead to huge changes over the longer term.

“I don’t think as we get out of the pandemic the overall operating mode of the way a business like ours operates will be vastly different,” he said.

Within the finance sector, it appears Mr Solomon is not alone.

In September, JP Morgan’s chief executive Jamie Dimon said that working from home has had a negative effect on productivity.

Barclays boss Jes Staley also expressed hope recently that the vaccine would allow employees to return to the office.

However, more recently Lloyds Banking Group said it planned to cut the amount of office space it uses by 20% within three years, and HSBC has announced a 40% cut in its office footprint.

Permanent work from home?


Tech companies, also appear to be more enthusiastic about work from home arrangements.

Microsoft, Facebook and Twitter have all said staff would have the option to work from home permanently.

Facebook has suggested that up to half of its staff could work remotely within five to ten years.

But the social media giant has also hinted that remote workers might receive lower pay, as their expenses would be less away from San Francisco and Silicon Valley.


How to combat back pain while working from home


Newsletter

Related Articles

0:00
0:00
Close
Beijing Brands UK Hong Kong Visa Expansion ‘Despicable and Reprehensible’ After Jimmy Lai Sentencing
Tesco Chief Warns UK Is ‘Sleepwalking’ Toward a Joblessness Crisis
Trump’s ‘Act of Great Stupidity’ Comment on UK Chagos Deal Reverberates Through Diplomacy and Strategy
New U.S. filings say Jeffrey Epstein repaid Les Wexner one hundred million dollars after theft allegation
Commerce Secretary Howard Lutnick acknowledges 2012 visit to Jeffrey Epstein’s private island as lawmakers scrutinise past ties
Helsing and Stark Defence loitering-munition drones and Germany’s race to industrialise battlefield autonomy
UK orders deletion of Courtsdesk court-data archive, reigniting the fight over who controls public justice records
UK Police Review Fresh Claims Involving Prince Andrew as Senior Royals Respond to Epstein Files
Keir Starmer’s Premiership Faces Unprecedented Strain as Epstein Fallout Deepens
Starmer Vows to Stay in Office as UK Government Faces Turmoil After Epstein Fallout
China and UK Signal Tentative Reset with Commitment to Steadier, Professionally Managed Relations
UK Confirms Imminent Increase in ETA Fee to £20 as Entry Rules Tighten
UK Signals Possible Seizure of Russia-Linked ‘Shadow Fleet’ Tanker in Escalation of Sanctions Enforcement
Epstein Scandal Piles Unprecedented Pressure on UK Prime Minister Keir Starmer’s Leadership
UK’s ‘Most Romantic Village’ Celebrates Valentine’s Day and Explores the Festival’s Rich History
The Implications of Expanding Voting Rights to Non-EU Foreign Residents in France
Ghislaine Maxwell to Testify Before US Congress on February 9
Al.com Acquired by Crypto.com Founder for $70 Million
Apple iPhone Lockdown Mode blocks FBI data access in journalist device seizure
Belgium: Man Charged with Rape After Faking Payment to Sex Worker
KPMG Urges Auditor to Relay AI Cost Savings
US and Iran to Begin Nuclear Talks in Oman
Winklevoss-Led Gemini to Slash a Quarter of Jobs and Exit European and Australian Markets
Canada Opens First Consulate in Greenland Amid Rising Geopolitical Tensions
China unveils plans for a 'Death Star' capable of launching missile strikes from space
NASA allows astronauts to take smartphones on upcoming missions to capture special moments.
Trump administration to launch TrumpRx.gov for direct drug purchases
Investigation Launched at Winter Olympics Over Ski Jumpers Injecting Hyaluronic Acid
U.S. State Department Issues Urgent Travel Warning for Citizens to Leave Iran Immediately
Wall Street Erases All Gains of 2026; Bitcoin Plummets 14% to $63,000
Epstein Case Documents Reignite Global Scrutiny of Political and Business Elites
Eighty-one-year-old man in the United States fatally shoots Uber driver after scam threat
UK Royal Family Faces Intensifying Strain as Epstein-Linked Revelations Rock the Institution
Political Censorship: French Prosecutors Raid Musk’s X Offices in Paris
AI Invented “Hot Springs” — Tourists Arrived and Were Shocked
Tech Mega-Donors Power Trump-Aligned Fundraising Surge to $429 Million Ahead of 2026 Midterms
UK Pharma Watchdog Rules Sanofi Breached Industry Code With RSV Vaccine Claims Against Pfizer
Melania Documentary Opens Modestly in UK with Mixed Global Box Office Performance
Starmer Arrives in Shanghai to Promote British Trade and Investment
Harry Styles, Anthony Joshua and Premier League Stars Among UK’s Top Taxpayers
New Epstein Files Include Images of Former Prince Andrew Kneeling Over Unidentified Woman
Starmer Urges Former Prince Andrew to Testify Before US Congress About Epstein Ties
Starmer Extends Invitation to Japan’s Prime Minister After Strategic Tokyo Talks
Skupski and Harrison Clinch Australian Open Men’s Doubles Title in Melbourne
DOJ Unveils Millions of Epstein Files, Fueling Global Scrutiny of Elite Networks
France Begins Phasing Out Zoom and Microsoft Teams to Advance Digital Sovereignty
China Lifts Sanctions on British MPs and Peers After Starmer Xi Talks in Beijing
Trump Nominates Kevin Warsh as Fed Chair to Reorient U.S. Monetary Policy Toward Pro-Growth Interest Rates
AstraZeneca Announces £11bn China Investment After Scaling Back UK Expansion Plans
Starmer and Xi Forge Warming UK-China Ties in Beijing Amid Strategic Reset
×