JP Morgan has offered to give staff in Hong Kong up to $5,000 to cover quarantine costs, so they can visit families abroad.
The city has tough quarantine rules, meaning arrivals into Hong Kong must quarantine in a hotel for up to three weeks.
In a memo to staff, the investment bank said: “We recognise that the costly quarantine measures in place in Hong Kong associated with Covid-19 have impacted many of you with respect to visiting family and loved ones overseas.”
The South China Morning Post first reported on the memo, which was sent to staff after bosses had warned the quarantine rules were making it more difficult to retain talent in the area.
The rules mean Hong Kong’s “domination as Asia’s hub could lessen over time,” according to recent comments from Tara Joseph, the president of the American Chamber of Commerce in Hong Kong.