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Commonwealth Bank developing state of the art workplace environments

12 July 2006

The Commonwealth Bank today announced a comprehensive Sydney property accommodation strategy which will see the development of state of the art buildings and surrounding facilities in three key areas across Sydney for around 12,000 of its non-branch employees.

Currently, the Bank occupies several buildings in the CBD and other Sydney locations. The new workplaces will incorporate environmentally friendly and flexible facilities incorporating smart technology, to better meet customer, employee and business needs.

Locations selected by the Bank to meet both accessibility and business needs are Sydney CBD, Sydney Olympic Park and Parramatta.

In Sydney Olympic Park, the Bank is establishing a new campus style business centre that will comprise several purpose built and specifically designed buildings. The new area will include attractive landscaping and external design, large atriums to provide natural light and relaxation areas for staff and a large floor plan that will encourage collaboration and team work across business units. The buildings and surrounding areas will support the Sydney Olympic Park "green" theme.

The Bank’s Chief Executive Officer, Ralph Norris said, "the Bank is delighted to be supporting the growth of Western Sydney and beyond as it develops an exciting campus style facility at Sydney Olympic Park and new and refurbished accommodation at Parramatta.

These workplace environment changes will closely align the Bank’s business and employee needs. They aim to provide contemporary, attractive and technology-friendly premises, as well as address the Bank’s risk management and business continuity requirements. Furthermore, given that its employees reside across the entire Sydney metropolitan area, the Bank sought locations that are well serviced by facilities and public transport.

Ralph Norris, added, "Many of our operations will be in purpose-built and specifically designed business centres, providing our people safe, efficient, attractive and connected workplaces. These modern workplace environments will support the Bank’s focus on family/work lifestyle balance with a range of facilities including childcare and nursing rooms".

"We will be creating innovative work environments that offer greater capacity for working collaboratively and that aim to provide greater workplace satisfaction. We will be working closely with our people, to both ensure a smooth transition for everyone involved, and to ensure there is no disruption to service for our customers during the relocations," he added.

Implementation will be staged, with the first relocations commencing mid-2007 and concluding in 2010.

Further information on the selected workplaces is attached to this announcement.

 

Attachment

Sydney Olympic Park

The Bank will develop a campus style multi-building facility at Sydney Olympic Park to accommodate around 5,000 employees.

This purpose built facility will be home to parts of Wealth Management, much of Retail Banking Services and Enterprise IT, and some of People Services, Premium Business Services and Financial and Risk Management.

Parramatta

The Bank will be located within two buildings at Parramatta. Construction has already commenced on a new Parramatta site located at 101 George Street, due for completion mid-2007.

The number of employees working in the area will be around 3,000.

Sydney CBD

In the CBD, the Bank will consolidate by reducing the current number of buildings occupied.

More than 4,000 people will be located in the City.

Exact locations will be advised as decisions are made.

Other Sydney-based Bank locations

There is no change to other non-branch locations occupied by the Bank across the Sydney metropolitan area.

 

Ends

For further information contact:

Bryan Fitzgerald
General Manager, Media & Issues Management
Commonwealth Bank
Ph: (02) 9378 2663
Mob: 0414 789 649

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