Standard Chartered is among a number of global banks that are moving to permanent hybrid working following the Covid-19 pandemic. Should it proceed with its plans in Singapore, it could be the biggest office space cut among lenders in the city in recent years, mirroring a similar downsizing it’s undertaking in Hong Kong. It will join a list of other global banks like Citigroup, DBS Group Holdings and Mizuho Financial Group.
Standard Chartered is weighing options to downsize its office space in what could become the biggest floor cuts by a bank in Singapore in recent years, according to people familiar with the matter.
The London-based bank is weighing options that would see it give up some of the 21 floors it leases at Marina Bay Financial Tower 1 in the business district, according to people familiar, who requested not to be named because the matter is private. An option for the bank is to cut a minimum of four floors – the equivalent of about 80,000 square feet – one of the people said. The plans are under discussion and subject to change, the people said.
