BlackRock mandates full-time office return for senior managers

BlackRock is mandating its approximately 1,000 senior managers worldwide to work from the office five days a week, tightening its previous policy that required four days of in-person attendance. This shift aims to enhance collaboration and ensure that managing directors lead their teams and serve clients more effectively through direct engagement. The move reflects CEO Larry Fink's longstanding criticism of remote work, which he argued undermines company culture and productivity, and contrasts with the pandemic-era flexible working policies. While BlackRock stops short of a blanket ban on remote work for all employees, its stance aligns with other major Wall Street firms like Goldman Sachs and JP Morgan, which have also reinstated full-time office attendance for senior staff. The decision underscores a broader trend in the financial sector to return to in-person leadership and teamwork amid evolving work culture debates. BlackRock's stock analysts maintain an 'Outperform' rating, reflecting confidence in the firm's strategic direction despite these operational changes.