Scotiabank to spend over $1.5 billion to transform downtown Kingston head office


Scotiabank to spend over $1.5 billion to transform downtown Kingston head office

Port Royal Street head office to be made more customer-centric

Observer Business Writer

Friday, August 23, 2019

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Scotiabank is investing upwards of $1.5 billion in the coming months to transform its head office on Port Royal Street in downtown Kingston to make it more customer-centric and technology-driven.

This is in addition to the capital works now being undertaken at the said location, where the bank is consolidating its downtown Kingston branch network after deciding to close its King Street branch and to expand the Port Royal Street branch into its Scotia Centre flagship branch.

Scotiabank President and Chief Executive Officer (CEO), David Noel, disclosed in an interview with The Caribbean Business Report said infrastructure works on the head office will start as soon as the new 'Scotia Centre' branch is completed in the coming weeks. He indicated that “when completed the head office will be a completely transformed building.”

Noel announced that “one billion dollars will be spent on the head office, while $500 million is being expended on the Scotia Centre branch, which will be redesigned and reorganised to meet the needs of the combined customer base of Kings Street and the new flagship branch.”

During this transition period, consolidated banking operations are being conducted at the King Street branch, while the Port Royal Street branch has been closed for extensive renovations, as it is being converted into the flagship branch.

In giving more details about the plans for the head office, Noel told The Caribbean Business Report that “the space would be a completely new and engaging environment for both staff and customers.”

He added “we will be changing our entire head office and creating a space that is more user-friendly, encourage more engagement with staff, more collaborative and more agile. Instead of having lots of separate offices, it's going to be a new environment that's more open, fresher, designed for more collaboration, and uses a lot more technology; so again it's something we are very proud of.”

Commenting about the infrastructure work now being done, the Scotiabank boss explained, “the bank is starting with the flagship branch first and then the head office will be done floor-by-floor over the coming months.”

Turning to the under-construction flagship branch, Noel emphasised “when completed it will very different from traditional branches and it's something we are looking forward to. The plan is to have a state-of-the-art branch that any Jamaican would be proud of. It's going to be our new flagship branch designed around our customers, having conversations with our customers, a place where we can have a deeper more detailed conversations regarding financial advice and planning.”

According to Noel, “when the renovations are complete, Scotia Centre will be one of the most cutting-edge banks in the Caribbean, redesigned around better customer experience.”

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