Citigroup has followed its US investment banking rivals by asking the vast majority of its staff to work remotely following an escalation in the number of UK coronavirus cases, including one in its Canary Wharf headquarters.

The US bank is asking all of its UK-based employees who can work remotely to do so, switching its previous arrangement of maintaining most of the workforce in Canary Wharf and splitting its trading team across its UK headquarters and a disaster-recovery site in Lewisham, according to a memo seen by Financial News.