By Leah Montebello
Citigroup is bumping its holiday days in an attempt to lure top talent to the Wall Street bank.
According to an internal memo seen by City A.M. and first reported by Bloomberg, employees will get 27 days of holiday effective from January, increasing to 28 days after two years and 29 days after five years.
The memo said the US bank recognised that staff “value time away from work to rest and to re-energise” and the new structure was “designed to be simpler, more inclusive and linked to tenure”.
“Our benefits and policies represent the ways we support colleagues throughout all stages of life and during the realities of good and tough times. These are moments that matter and bring to life Citi’s vision of working for a bank with a soul,” UK Head of HR Kathryn Skelton wrote in the memo.,
The move comes as the fight for young professionals continues across the City.
Citigroup recently opened a new hub for junior investment bankers in the Spanish seaside city of Málaga on the Costa del Sol.
The US bank selected 27 of more than 3,000 applicants to work at its new Spanish hub, as part of a two-year programme promising work-free weekends and eight hours days.
In locating its hub in Malaga, Citigroup hopes to get ahead in the battle for talent by drawing in those applicants put off by the punishing workloads that are common in London and New York.
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