CIMB Launches New Office

CIMB Launches New Office Above Change Alley Mall

SINGAPORE – Yesterday, CIMB officially opened its new branch on top of Change Alley Mall, which was renamed to CIMB Plaza, reported The Straits Times on Thursday morning (2 June, SGT).

Notably, the Malaysian bank operated from Singapore Land Tower for 12 years before relocating to 30 Raffles Place in December 2021.

The opening of CIMB’s new outlet above Change Alley Mall gave the bank an opportunity to create an office suited for hybrid work arrangements, which involves “hot-desking and coworking space,” said CIMB Singapore’s CEO Victor Lee during the opening ceremony.

The bank’s new office features collaboration pods and meeting rooms that can accommodate both physical and virtual participants, allowing teams to “collaborate more intimately.”

CIMB’s new branch is also equipped with cashless vending machines and temperature screening devices for health and safety measures as workers return to the office.

“Employees have been so used to working remotely for over two years, so giving them a choice to manage their work week improves employee well-being,” commented CIMB’s HR Head Jaime Rosario said.

The relocation also enabled the bank to lease a green office as the new building is Green Mark certified, after it obtained the Green Mark Award in 2020 for energy-efficiency.

About 1,000 staff reports to the new office after CIMB Singapore closed down a branch in Orchard Road in 2021 as part of its restructuring exercise.

The official opening of the bank’s new office was held in conjunction with the ceremony to rename Change Alley Mall as CIMB Plaza.

The alley, which was a bustling spot for traders and brokers dealing in spices, metals, and agricultural products, is believed to have been named in 1890 after London’s famous trading hub, Exchange Alley. The alley runs from Raffles Place to Collyer Quay, strategically placing it within the heart of Singapore’s central business district (CBD).

In the 1930s, the 100m-long stretch was famous for its vibrancy and diverse businesses from apparel retailers to the ubiquitous money changers. But the crowd dwindled due to falling sea travel, the withdrawal of British troops in the 1970s, and the rise of shopping centres.

As such, the alley closed in 1989 and adjacent structures were demolished, namely the 15-storey office building Singapore Rubber House and the 4-storey Winchester House. The alley was then brought back to life in 1993 as an air-conditioned shopping arcade sandwiched between Chevron House and Hitachi House, which is now known as 16 Collyer Quay.

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