(Bloomberg) — Bank of America Corp. will move its Japan headquarters to a tower under construction in central Tokyo as the Wall Street lender seeks a more environment-friendly office.
The US bank plans to relocate to the property being built by Mitsui Fudosan Co. and Nomura Real Estate Development Co. in the Nihonbashi business district as soon as the last quarter of 2026, according to an internal memo seen by Bloomberg.
Spokeswoman Joey Wu confirmed the contents of the memo and declined to elaborate further. The new place is close to the lender’s current office built in 2004.
The plan is in line with Bank of America’s goals to help achieve net zero greenhouse gas emissions by 2050, including by reducing those from its own operations by 75% by 2030. The lender’s future home in Tokyo is scheduled to “use renewable energy, and provide us with long-term cost efficiencies,” the memo said.
Bank of America will occupy space high up the 52-floor building, which is part of a redevelopment project in the district, where the Bank of Japan and the Tokyo Stock Exchange are nearby. In addition to offices, the complex will feature a hotel, residences, shops and a convention hall. Mitsui Fudosan and Nomura Real Estate plan to complete construction in March 2026.
Read More: Japan’s Banks Break With Wall Street by Embracing Hybrid Work
Bank of America has more than 800 employees in Tokyo. The company is among Wall Street firms that are trying to coax employees back to the office as the pandemic fades. It requires most workers to be in the office three days a week.
©2023 Bloomberg L.P.
Source: bnnbloomberg.ca
(Bloomberg) — Bank of America Corp. will move its Japan headquarters to a tower under construction in central Tokyo as the Wall Street lender seeks a more environment-friendly office.
The US bank plans to relocate to the property being built by Mitsui Fudosan Co. and Nomura Real Estate Development Co. in the Nihonbashi business district as soon as the last quarter of 2026, according to an internal memo seen by Bloomberg.
Spokeswoman Joey Wu confirmed the contents of the memo and declined to elaborate further. The new place is close to the lender’s current office built in 2004.
The plan is in line with Bank of America’s goals to help achieve net zero greenhouse gas emissions by 2050, including by reducing those from its own operations by 75% by 2030. The lender’s future home in Tokyo is scheduled to “use renewable energy, and provide us with long-term cost efficiencies,” the memo said.
Bank of America will occupy space high up the 52-floor building, which is part of a redevelopment project in the district, where the Bank of Japan and the Tokyo Stock Exchange are nearby. In addition to offices, the complex will feature a hotel, residences, shops and a convention hall. Mitsui Fudosan and Nomura Real Estate plan to complete construction in March 2026.
Read More: Japan’s Banks Break With Wall Street by Embracing Hybrid Work
Bank of America has more than 800 employees in Tokyo. The company is among Wall Street firms that are trying to coax employees back to the office as the pandemic fades. It requires most workers to be in the office three days a week.
©2023 Bloomberg L.P.
Source: bnnbloomberg.ca
