17 August 2012
Nationwide Building Society has today announced that it has acquired the lease for a new London office in Threadneedle Street. This will see the Society establish an increased presence in a central City location, which will also house a new state-of-the-art branch, and become the permanent base for Nationwide's Treasury Front Office team. The Society's head office will continue to be based in Swindon, with major administration centres in Northampton, Bournemouth and Dunfermline.
The site is of particular importance for the Group's Treasury function, as it is in close proximity to key stakeholders such as the Bank of England, HM Treasury, and credit rating agencies. It will also ensure that the team is able to continue to retain and attract staff with the skills and experience necessary to support Nationwide.
As well as presenting a significant opportunity to strengthen the Society's branch presence in the Square Mile, the site offers flexibility in terms of capacity for future growth.
The property is a self-contained building located in the heart of the financial sector. It occupies a prominent position on the south side of the street and at the corner of Threadneedle Street and Finch Lane. The building comprises seven floors of offices above a ground floor retail unit where the new branch will be located.
Nationwide expects to start moving employees into the new London office from mid-year 2013.
Tony Prestedge, Nationwide's Chief Operating Officer, said:
"This is a good move for Nationwide which means our key Treasury and Board functions will be in the heart of the City with easy access to regular day-to-day contacts.
"This relocation is part of the ongoing transformation and modernisation of Nationwide and supports our ambitious plans for growth."