Citi shutting down the Málaga office that promises better business balance to bankers

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Citigroup closes the beach Málaga office for less than three years after opening the hub to provide better employment bankers.

The US creditor said that this would close something in southern Spain in southern city and transferring other workers to London and Paris, said the bank was confirmed in the financial time.

Citi Opened an office in 2022 At a time when the height of the post-pandemic war for talent in the financial services industry and in a moment of criticism to prevent employees’ burning.

Wall Street Bank hoped Separate himself except his opponents The Costa del Solun offers eight hours and weekends – Costa del Left, a scream from the seven-day work week is usually required from young investment bankers in New York and London.

However, Citi said that the office was closed as part of the strategy of “facilitating the firm and improve how we work.”

“Unfortunately, this decision means that our colleagues in Málaga will leave the company and support them during this period,” he said. The Bank will be transferred to roles in London in London and Paris in the Málaga office.

Investment banks were striked with an extended drought and the lender begins to retreat over the perks and squeeze the pandemic work policy. In recent months, banks such as JPMorgan Chase and Barclays have demanded more regular office participation.

Citi Earlier this year, two days were seen as a seller of the company, which was previously expanded this year in the early this year to allow employees to work from home. However, to ensure that the lender’s office will meet the requirements of the office participation, in late 2023, the security passage began to follow the slip.

When the US Bank initiates Málaga in 2022, more than 3,000 applicants chose 27 analysts.

In this case, Manolo Falcó, Citi’s Global Project, Investment Bank The initiative was “not gimmick” Despite the decline in the requirements, it would not be “stigma”.

He added that the bank took the action “incredible reaction”, and this was offering a better work capacity in the bank, he was eager to see that he prevented career and technological choices with private capital and technology.