CITY bankers are continuing to work from Basingstoke with staff being housed in apartments in the town.

Employees of one of the world's leading investment banks JP Morgan were relocated to the town in March, before the country went into lockdown.

While a number of fellow banks instructed non-essential staff to work from home, JP Morgan has continued to ask staff to work from its offices either in Canary Wharf, Victoria or its back-up trading site in Viables.

The New York-based firm has owned the office in Jay's Close for a number of years.

Insiders said the firm initially put staff up in the luxury five-star Four Seasons Hotel, located in the village of Dogmersfield, between Hartley Wintney and Fleet.

After the hotel closed, staff were reportedly moved into serviced apartments in Basingstoke. Trade publication Financial Careers reports that staff wanted to work from home but the bank mandated their presence.

JP Morgan has been contacted for comment.

The business's usual office is in Canary Wharf and sits alongside other household name banks in London's financial district.

Bankers were seen arriving at the town's train station on March, after it was announced they would be temporarily working from the town.

At JP Morgan around 80 per cent of its sales and trading team are working from home, while the remaining 20 per cent are splitting their time between Canary Wharf, Victoria Embankment offices in London and its back-up trading site in Basingstoke.

Reuters reports that JP Morgan will, for the time being, keep using this site 50 miles south-west of London, with some staff staying in apartments and hotels, a source familiar with the plans said.

Meanwhile banks including Barclays, NatWest, and Standard Chartered are likely to retain flexible working arrangements for many staff permanently.