Wall Street Banks Lead Return-to-Office With Labor Day Push

After Labor Day, it's back to the office for Wall Street.

Big banks including Goldman Sachs Group Inc. and Morgan Stanley are clearing the final hurdles for full-time, in-person work, and once again reminding employees that they’re wanted in the office. After a few false starts, there’s a sense that this time it’s for real.

Labor Day has long marked a turning point in New York: Finance moguls return from the Hamptons, kids go back to school, and business picks up as the calendar turns to September. On Tuesday, a few hundred attendees at the Bank Policy Institute’s first in-person annual conference in three years caused a backup of Ubers and taxis at the Pierre Hotel in Midtown.

Last year, Covid-19’s delta variant scuttled plans to get workers back to their desks. But now, bosses are expecting workers to finally start showing up more regularly at Manhattan offices that have been sparsely populated for more than two years. And they’re counting on the turbulent economy to provide an extra nudge.