National Bank CEO worried about effect of remote work on downtown Montreal

By The Canadian Press on April 21, 2023.

MONTREAL – The CEO of National Bank says he’s worried about the impact remote work is having on the vitality of downtown Montreal, but plans to maintain a flexible approach toward his employees working in the office.

Laurent Ferreira said in an interview he’s worried about the effect the widespread adoption of telecommuting is having on small businesses downtown and believes the business community has a responsibility toward the city’s downtown.

While the Royal Bank of Canada has asked its employees to work from the office three or four days a week, National Bank is suggesting workers come in 40 per cent of the time.

Around 12,000 people work at National Bank’s downtown Montreal headquarters.

Ferreira says the bank is well-positioned to deal with an economic slowdown and has higher capital reserves than its peers.

He says the bank wants to grow organically outside Quebec and has identified commercial banking and wealth management as its main avenues for growth.

This report by The Canadian Press was first published April 21, 2023.

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