Bank of America’s Staff Move Piles Pressure on Hong Kong Office Market

Bank of America Corp. will relocate its non-customer-facing staff in Hong Kong from the headquarters to another office in the city to save on rent, sources with ties to the U.S. banking giant told Caixin.

The move will shrink the bank’s Hong Kong headquarters — seven floors of the landmark Cheung Kong Center located in the city’s Central district — by one and a half floors, according to the sources.