Having laid off about 750 workers from its American headquarters in Stamford, the Royal Bank of Scotland (RBS) has put its building at 600 Washington Blvd. up for sale. The company hopes to continue operating in the building through a lease-back arrangement.
The bank expects to conclude the sale later this year. An asking price was not announced. The building was appraised last year for nearly $151 million.
The sale is not expected to directly affect about 500 employees who remain in Stamford and focus on RBS’ NatWest Markets corporate and institutional banking services.
“As we have reduced the size of our global footprint, it now makes economic sense for RBS to sell the building at 600 Washington Blvd., and lease back the office space that we require,” RBS said in a statement. “Our NatWest Markets U.S. sales and trading operations in Stamford remain a core part of our business, providing our customers with access to the U.S. dollar markets across currencies, rates and financing.”
RBS’ lease-back agreement with the new owner would run for 10 years.
Click here to sign up for Daily Voice's free daily emails and news alerts.