Bank of New York Mellon Plans to Move Its Corporate Headquarters in Lower Manhattan

By Justin Baer

Bank of New York Mellon Corp. is moving its global headquarters for the second time in less than four years.

The custody bank plans to relocate all of its employees from Brookfield Place, the downtown office tower formerly known as the World Financial Center, to a nearby building at 101 Barclay Street. The move consolidates BNY Mellon's presence in New York, bringing together some 4,500 employees under one roof, a spokesman for the bank said.

"As part of our multi-year corporate real estate strategy, we have continued to review our occupancy needs in Lower Manhattan, and there are real benefits for us bringing together the teams currently at 225 Liberty with our colleagues in 101 Barclay," Michael Santomassimo, BNY Mellon's finance chief, wrote in a memorandum to employees.

BNY Mellon signed a 20-year lease with Brookfield Place's landlord, Brookfield Office Properties Inc., in 2014. The agreement began the following January.

(END) Dow Jones Newswires

January 31, 2018 16:38 ET (21:38 GMT)

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