Two of the City’s biggest financial services professional bodies will share an office in the Walkie Talkie as they seek to downsize their property footprints as part of a home working drive following the coronavirus lockdown.
The Chartered Institute for Securities & Investment (CISI) and the Chartered Insurance Institute (CII) will share a floor at 20 Fenchurch Street from early next year.
The professional bodies said they had reviewed their property footprints during the coronavirus pandemic after deciding the option to work from home boosts “productivity and well-being”.
The CISI will offer a split between remote working and office working for its London-based staff.
Meanwhile the CII had already launched an “Anytime Anywhere” approach to working. The organisation will vacate its offices in Lombard Street and South Woodford by the end of the year.
The coronavirus pandemic has accelerated a shift towards remote working after all employees were told to work from home during the pandemic.
However concerns have been raised that the move away from office working could have a negative impact on city centre businesses that rely on the daily influx of commuters.
Accountancy firm PwC last week said home working could cost the UK economy up to £15.3bn a year due to the knock-on effect on office cleaners and security guards as well as nearby cafes and coffee shops.
CISI chief executive Simon Culhane said: “This is collaboration and cooperation in action and a great opportunity for both organisations. During 2020 we have learnt the benefits of our staff being able to work remotely and how this positively contributes to productivity and well-being.
“Therefore we have taken a decision to remodel our existing property footprint by creating two separate offices on our floor. We are delighted that this has offered us this positive new opportunity.”
The CISI will remodel its existing space in the Walkie Talkie to create a new physically separate office for the CII, with a five year lease.
The skyscraper will be the headquarters for both organisations, which will remain legally separate.
“The Walkie Talkie will be a modern and dynamic business hub for us, which meets the evolving needs of our organisation with community space for staff and visitors, both on our floor and from other features of the building like the Mezzanine and Sky Garden,” Sian Fisher, CII chief executive, added.
“We look forward to being neighbours of our sister professional body CISI from 2021.”