Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

'We need to get Monday back' and get people in the office earlier in the week, says the CEO of the world's largest insurance marketplace

'We need to get Monday back' and get people in the office earlier in the week, says the CEO of the world's largest insurance marketplace

John Neal was talking to the FT about getting brokers and underwriters back on Lloyd's trading floor earlier in the week.
Corporate leaders who are desperately trying to get their employees back to the office are finding that it's still hard to get people to show up on Mondays.

"Tuesdays, Wednesdays, and Thursdays are busy," John Neal, CEO of the world's largest insurance marketplace Lloyd's of London, told the Financial Times in an interview published Wednesday.

"We need to get Monday back," Neal told the media outlet, summing up a challenge in getting employees back to the office at the start of the week.

He was talking about getting brokers and underwriters back on Lloyd's trading floor — where deals for specialist insurance policies — such as marine insurance and body parts insurance — are struck.

It's not the first time Neal is calling for a return to the office after employees were in a prolonged remote working situation during the pandemic.

"I think it's massively important for younger workers to experience in-person trading," Neal had told The Telegraph in September 2021. "We have the best talent in the world in London in the insurance industry, but we need to be with that talent to help develop them so the next generation can be better than my generation. We have a responsibility to the next generation," he added, per the UK-based newspaper.

A Lloyd's spokesperson told Insider it needs both a "thriving physical space" and a fully integrated digital offering for the marketplace of the future it's building.

Corporate leaders across the board are now pushing back against remote work, with some echoing Neal's sentiment that the arrangement isn't ideal for the development of young workers, because they hurt their opportunities for learning, socializing, and networking.

David Solomon, Goldman Sachs CEO, who once called remote work "an aberration," told CNBC in October 2022 it was especially important for younger employees to show up in the office. "We have an organization where 50% of the people are in their 20s. They come to Goldman Sachs to learn, to meet people, to interact," he told the broadcaster.

"It doesn't work for young kids, it doesn't work for spontaneity, it doesn't really work for management," JPMorgan CEO Jamie Dimon told CNBC's Squawk Box on January 19.

Other high-profile executives who want their employees back in the office include Citadel CEO Ken Griffin, Morgan Stanley CEO James Gorman, Starbucks CEO Howard Schultz, and Tesla CEO Elon Musk.

While Lloyd's Neal may have been referring to employees in the UK, the experience across the Atlantic is similar.

Office occupancy across 10 metro cities in the US peaked at an average of 58% on Tuesdays and Wednesdays and was just over 50% on Thursdays in February — far leading the occupancy rates of 46% and about 30% for Mondays and Fridays, Kastle Systems, an office security firm, said in a March 6 report.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
U.S. and China Agree on Framework to Shift TikTok to American Ownership
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
The New Life of Novak Djokovic
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
France, at an Impasse, Heads Toward Another Government Collapse
The Country That Got Too Rich? Public Spending Dominates Norway Election
EU Proposes Phasing Out Russian Oil and Gas by End of 2027 to End Energy Dependence
More Than 150,000 Followers for a Fictional Character: The New Influencers Are AI Creations
EU Prepares for War
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
×