Financial services firm BTIG, which focuses on institutional trading, investment banking, research and brokerage service, expects its US offices to remain shuttered and employees to work remotely for the rest of this year due to the Covid-19 crisis.
In the wake of the pandemic, the firm was one of the earliest firms to make work-at-home arrangements for its staff early this March.
Earlier the firm set September as the date to reopen its 11 offices in the US. It was intended to be a phased approach.
Currently, the firm intends to monitor local re-openings in the states where it operates prior to opting for re-opening. The decision will impact all employees, including the trading teams.
The firm said that it does not expect the reopening of offices in the near term until the health risks posed by indoor environments are clear.
BTIG COO Jennifer Mermel said: “There is no need for any immediate return to the office in any of our U.S. locations. Our staff is secure in their positions, business is operating without disruption, and client feedback has been strong.
“When the indicators change, BTIG will respond accordingly.”
BTIG further said that remote work will now be a key part of the firm’s culture.
Currently, the firm’s management is focusing on how it will enable its staff to adapt to new collaboration methods.
BTIG’s core capabilities include global execution, portfolio, electronic and outsource trading, transition management, investment banking, prime brokerage, capital introduction, research and strategy, among others.
The firm has a presence in 18 cities across the US, as well as in Europe, Asia and Australia. Its staff headcount is over 600.