From the fourth quarter, the bank will also move at least 300 mostly back-end staff at 20 Collyer Quay to Mapletree Business City — a business park located in the country’s south — to free up the location for those affected by the cut in floor space, the people said. The plans are not final and could change, the people added.
BNP Paribas SA is set to give up space in a prime office tower in Singapore amid rising commercial rent in the financial hub, according to people familiar with the matter.
The French bank, which currently occupies six floors at Ocean Financial Centre, plans to not renew some of the space in the central business district when the lease expires at the end of the year, the people said, requesting not to be named because the matter is private. The move will help curb costs, they added.
