Standard Chartered Bank is considering bringing its operations back onshore in a move that could launch a 200,000 sq ft UK-wide requirement.
The bank, which is headquartered in London but operates mainly out of Asia, Africa and the Middle East, is looking at options to relocate its back-office functions from Asia to the UK.
It is one of a growing list of UK financial services firms that are choosing to bring clerical functions back onshore.
Standard Chartered is understood to favour Liverpool or Nottingham for its UK facility, with Merseyside as the bank’s first choice. Scotland and the Republic of Ireland have already been ruled out as potential locations.
Sources said that the bank, which became the shirt sponsor for Liverpool Football Club in 2010, will need at least 60,000 sq ft by July if it does choose to bring its operations back to the UK, but added that this was likely to rise to 200,000 sq ft.
The requirement would be a major fillip for the regions, especially Liverpool, where take-up last year totalled just 280,000 sq ft.
Andrew Owen, director with local agent Mason Owen, said: “Liverpool has not had much inward investment in recent years, but this deal is hopefully a sign of things to come.”
A number of other requirements have also been launched in Liverpool, including a 65,000 sq ft contact centre search by insurance company Direct Line. It has instructed DTZ to find it the space ahead of a lease expiry at its offices in Cavern Court later this year.
Tata Consultancy Services, the outsourcing arm of Indian conglomerate Tata Group, is also conducting a cursory search for 25,000 sq ft in the city through Bond Woodhouse. However, the requirement is dependent on Tata winning a contract, understood to be with the Home Office, which is currently operated by services giant Capita.
