Lazard just told its incoming investment-banking summer interns their program will be virtual, as the bank eyes a broader, hybrid return to office after Labor Day

Ken Jacobs Lazard

Summary List Placement

Another boutique investment bank is telling interns that they’ll complete their internship program virtually this summer, but has plans for a broader return to office for all employees starting in September.

Lazard told incoming investment-banking summer interns based in the US that their “completely virtual” internships will begin on June 7 and end on August 6, in a new memo sent on April 7 by Hillary Haber, the firm’s vice president in financial advisory human resources, that was viewed by Insider.

Haber noted that the program might allow for some optional, in-person gathering opportunities, either to work in the office or to meet teams in some socially-distant capacity for engagements like trainings, events, and performance reviews. But those opportunities would be contingent on “local conditions” at the time, Haber wrote. 

A spokesperson for Lazard declined a request for comment from Insider.

Lazard is planning a broader, hybrid return to office in September

Separately, Haber told the interns that, while all of the firm’s US offices are open, most Lazard employees are continuing to work remotely by choice. The firm anticipates a more widespread return to its offices beginning after Labor Day.

When that does happen, Lazard said the migration back to in-person work won’t mean a return to the conventional five days per week at the office. Instead, she said, the firm will employ a hybrid model amalgamating both in-office and remote work.

In the meantime, Haber told interns, they will participate in a scheduled call on April 21 in which Lazard will answer interns’ questions about their upcoming summer programs and address logistics.

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The memo also made mention of a relocation payment that Lazard told interns they could use on expenses related to enhancing their home office set-ups, but did not go into further specifics about the payment amounts or whether they have already been …read more

Source:: Businessinsider

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