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June 4, 2021

Goldman Sachs, HSBC to reopen Hong Kong offices

Goldman Sachs Group and HSBC are set to reopen their offices to all employees as Covid-19 cases drop.

According to a Bloomberg report, both the banks permitted their workers to return to offices from Monday.

In an internal memo, Goldman Sachs noted that the decision was taken following an ‘extended period’ of low reported cases in the region.

It also noted that around 50% of its workforce has been partially or completely vaccinated against the novel coronavirus.

The US-based investment bank has around 1,700 employees in Hong Kong.

Meanwhile, HSBC has been allowing up to 50% occupancy at its offices. The lender will now allow its staff to return based on capacity in individual departments.

However, remote working option will remain available for those who wish to continue working from home.

HSBC has more than 20,000 employees in Hong Kong.

Earlier this week, Hong Kong’s financial regulators called on the banks, asset managers and other financial institutions to get their staff vaccinated.

The front line staff as well as employees responsible for critical operations will be prioritised for inoculation.

The number of new Covid-19 cases in Hong Kong has been on the lower single digits for the past several weeks.

The financial hub is now focusing on inoculating its 7.5 million population.

Last month, Hong Kong exempted fully vaccinated senior executives of financial firms from three-weeks of compulsory quarantine.

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