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This is part of a case series. The Bank of Italy (BI) is the central bank of the Italian Republic, which employs approximately 7,000 people between the central administration in Rome and its branches all across the Italian territory. During the 2020 pandemic, BI people had to work remotely on average for about 60% of their work days, with respect to 4% the previous year, and for more than 90% of the time between mid March and the end of April 2020 during the lockdown. Therefore, 2020 represented an occasion for great individual, team and organizational learning. The case study presents the challenges experienced by BI managers in 2020 with reference to managing virtual and hybrid teams (part A). It also opens up the discussion regarding what the managerial and organizational challenges are in relation to the continuation, also after the pandemic, of hybrid teams and what must be done on a structural and cultural level to accompany and institutionalize this change (part B).