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HSBC to StanChart predict demise of business travel for bankers
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Travel costs were down $300 million in 2020, suggesting an annual saving of $150 million going forward: HSBC
Jetting off at a moment’s notice to visit clients was second nature for many investment bankers before the pandemic struck. After more than a year of lockdowns and remote working, plenty of executives are now saying the days of regular globe trotting are gone for good.
There “will definitely be much less travelling,” Nordea Bank Apb Chief Executive Officer Frank Vang-Jensen said Thursday, while Standard Chartered Plc’s finance boss Andy Halford told Bloomberg Television he expects travel costs to reduce sharply: “We see a step change down in the level of travel once we normalise out of this.” ....

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