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NAB unveils Sydney headquarters

The big four bank has opened a new head office in Sydney, the first of two new corporate hubs it will launch this year.

Around 2,000 NAB employees are in the process of moving into the new bank’s location on Carrington Street in Sydney’s CBD.

The new building is the first of two new office buildings the bank will open this year, with another centre on Bourke Street in Melbourne’s CBD to follow.

NAB has signed a 12-year lease for the Sydney space.

Susan Ferrier, NAB group executive for people and culture, commented that the bank has adopted a “hybrid” model, with employees working in the office for two or three days a week and working from home for the remaining days.

“Hybrid working is the new normal for most of us with more flexibility in how we work, and our CBD offices remain crucial for collaboration and problem solving, as well as adding to the vibrant culture of Australia’s two largest cities,” she said.

NAB is launching the new corporate headquarters after it partially closed 114 regional branches last year.

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Similarly, other major banks such as ANZ and Westpac have followed the trend of closing branches, citing an increasing shift to digital banking.

ANZ declared in April that it will shut down 15 branches across regional NSW, Victoria and Western Australia in June to October.

Westpac has also said that it will shutter and merge 48 branches and relocate 300 jobs to Victoria, after it downsized and consolidated its overseas operations into three branches last year.

[Related: Heritage to open 2 new NSW branches]

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