T Rowe Price has announced it will relocate its London office to premises in Paternoster Square in early 2023 at a time when other fund groups are drastically downsizing their City headquarters and mulling the new working normal.
The asset manager will move out of its current office in Queen Victoria Street to a 130,000 square foot space in Warwick Court, with a communal roof terrace overlooking the City and St Paul’s Cathedral.
The site, which was chosen for its sustainable credentials, will also feature an atrium, cafe and 280 cycle racks and house all of T Rowe Price’s London employees.
Head of international equity and co-head of global equity Justin Thomson said that “staying in the City of London helps us maintain access to our clients and attract and retain top talent”. “This move represents our continued commitment to the growth of our business in EMEA.”
He added: “It also highlights our commitment to providing a workplace environment that enables productivity, enhances well-being, promotes resiliency to future change and supports a flexible and collaborative approach to work.”
In August, Schroders announced a permanent switch to flexible working to allow individual teams and employees to decide when, how and where they work, leaving attendance at their 1 London Wall Place office with 11 garden terraces optional.
Aviva Investors is also considering a “2-2-1” scheme where employees can work from home for two days, be in the office for two days, then choose what to do with the final day.
See also: Schroders to allow staff to keep working remotely after Covid-19
UK Finance, Deutsche Bank, HSBC and Lloyds are among others who have set out plans to reduce office space and shift to flexible working.
However, Boris Johnson has claimed that the City will roar back to life at the end of lockdown.
He said in a press conference last month: “I don’t believe that this is going to mean a fundamental change to the way life in our big cities really works. I think London and our great cities will be full of the buzz and life and excitement again, provided people have confidence about coming back into those city centres.”
See also: Andrew Formica queries sustainability of remote working as Jupiter staff head back to the office
