Revolut CEO Nikolay Storonsky has committed to protecting the company’s hybrid work model, despite plans to move into a flashy new office in Canary Wharf.
In an internal memo shared with Revolut staff seen by UKTN, Storonsky said the company would continue its hybrid working policy because “we care more about what you do than where you do it”.
“So long as hybrid working keeps us productive, we will not be making any changes to it.”
The fintech boss said the decision reflected how Revolut is “different from other companies”.
There has been a strong move towards back-to-office orders among Revolut’s peers in the banking sector. Barclays, Lloyds, JP Morgan Chase and Goldman Sachs and more have rolled back remote and hybrid working plans in favour of staff working full-time in office.
JP Morgan Chase CEO Jamie Dimon has taken a particularly aggressive approach. Responding to a staff petition requesting the company bring back hybrid working, Dimon said: “Don’t waste time on it. I don’t care how many people sign that fucking petition.”
Even Chancellor Rachel Reeves has urged an end to remote working, though acknowledged that hybrid models can be beneficial to some companies depending on circumstance.
Storonsky’s stated commitment to offering flexible in office hours to staff comes despite the $45bn digital bank gearing up to move into a multi-million-pound Canary Wharf headquarters.
According to Revolut, the addition of the four floors the firm will be renting from the YY London building will take its total office footprint to 113,000 sq ft. Office rentals in Canary Wharf generally cost between £30 to £55 per sq ft, putting Revolut’s spend on physical locations in the millions.
Though leadership at Revolut seems to be supportive of hybrid work, Storonsky did note that for small teams in “expansion markets” the company would “encourage more office time to support growth”.