(Reuters) -Wells Fargo is exploring the sale of the San Francisco constructing the place its headquarters are positioned, a supply accustomed to the matter instructed Reuters, because the lender strikes to a brand new constructing.
The financial institution’s company headquarters will proceed to be in San Francisco and it has no plans to maneuver out of the town, the financial institution mentioned in an emailed assertion to Reuters.
The lender has already began to interact in casual conversations with potential patrons and its workplace within the metropolis’s monetary district may very well be put in the marketplace as quickly as this month, in keeping with a report within the Wall Avenue Journal, which first reported on the information.
Wells Fargo (NYSE:) has employed the real-estate funding financial institution Eastdil Secured, which it bought in 2019 and nonetheless owns a minority stake in, as an adviser, the Journal mentioned.
“As part of our multi-year effort to build a stronger, more efficient Wells Fargo, we continually assess our real estate portfolio,” Wells Fargo mentioned.
Wells Fargo additionally mentioned that it has accomplished enterprise in San Francisco since 1852, and “the city remains important to the bank”.
