CMB was one of the first banks in Monaco to implement remote work for the majority of its 265 employees at the beginning of the health crisis.

Now that the situation seems to be improving, the Monegasque private bank is taking concrete steps to implement teleworking on a permanent basis, outside of the coronavirus obligations.

Sixty-four percent of CMB Monaco employees will experiment with teleworking one or two days a week.

The pandemic has accelerated changes in customer expectations. Clients’ preferences in regard to communicating with their financial advisers have evolved very rapidly towards remote solutions. CMB expects this trend to continue in the post-Covid era.

Remote working also corresponds to the expectations of a large number of employees. Internal surveys conducted in recent months have clearly shown that commuting is a major source of stress for many workers and the possibility of working from home for a few days a week allows more concentration on certain tasks.

Reducing commuting time has the double advantage of reducing its environmental impact on the one hand and considerably increasing the the wellbeing of employees on the other.

Francesco Grosoli, Chief Executive Officer, is “convinced we are facing a radical change and a key turning point: it is utopian to think that that we can and should go back to ‘business as usual’ before the pandemic.” He added: “We have been able to reinvent ourselves and even achieve excellent results in a tumultuous and unprecedented period. It is now up to us to invent tomorrow’s world of work together.”

FILE PHOTO: Francesco Grosoli of CMB Monaco