Executives at TD Bank will be required to work in the office for four days per week, starting from October.
Canadian Banks Announce Return-to-Office Mandates for Executive-Level Employees
Several major Canadian banks have announced return-to-office (RTO) mandates for executive-level employees, with a focus on in-person collaboration and culture alignment starting this fall 2025.
- TD Bank is leading the charge, requiring its executive-level employees (associate vice-president and above) to return to the office four days a week starting October 6, 2025. Non-executive employees are expected to follow suit on November 3, 2025 [1][2][4].
- Royal Bank of Canada (RBC) has announced a similar mandate for employees who are not fully remote, with a requirement to work from the office four days a week starting September 15, 2025 [1][3].
- Scotiabank has instructed Toronto-area employees in locations with available real estate to be in the office four or more days per week starting September 15, 2025 [1][3].
- Bank of Montreal (BMO) has set a similar four-day-a-week in-office requirement effective September 15, 2025, contingent on office space capacity [1][3][4].
These mandates have caused a scramble for workspace among employees at banks' corporate locations, as they strive to secure desks under these new policies [1]. Flexibility for occasional extra work-from-home days appears limited but may vary by team and location [4].
The return-to-office mandates from Scotiabank, BMO, RBC, and TD reflect a concerted push by Canada’s biggest lenders toward greater in-person collaboration and culture alignment this fall. Other banks, such as CIBC, have yet to announce their return-to-office policies, with speculation swirling about when they will make an announcement [1].
RBC is working closely with teams that may have real estate capacity issues to understand their needs and determine potential solutions [4]. Older buildings have more office space availability compared to newer workspaces like CIBC Square [5].
CIBC is planning to move into its second corporate tower at CIBC Square in Toronto, beginning next year [6]. However, there is no mention of a mandate for executive return to office beyond these four banks, nor of a later timeline beyond November 2025 for TD’s non-executive staff.
Some employees at TD may receive separate instructions with different timelines [7]. BNY Mellon has called its employees back to the office four days a week starting in September, but with no intention to push the mandate further [8].
It remains to be seen how these return-to-office mandates will impact employees and the overall work culture at these banks. However, one thing is certain - the fall of 2025 is shaping up to be a busy time for in-person collaboration in Canada's banking sector.
References:
- The Globe and Mail
- Bloomberg
- BNN Bloomberg
- The Financial Post
- The Toronto Star
- The Toronto Star
- The Financial Post
- Bloomberg
- These return-to-office mandates by Scotiabank, BMO, RBC, and TD are expected to stimulate increased collaboration and culture alignment within the finance industry, as many employees in the business sector will be required to spend more time in office starting this fall 2025.
- In response to these new policies, both Scotiabank and RBC are tasked with addressing potential real estate capacity issues to ensure proper workspace allocation for their employees within the industry.
