Synovus Exploring Opportunities to Consolidate Certain Atlanta Properties
October 16, 2014, COLUMBUS, GA – Synovus Financial Corp. (NYSE – “SNV”), the Columbus, Georgia-based financial services company, today announced that, as part of ongoing efforts to reduce costs and increase efficiency, work is underway to determine the economic impact of consolidating certain Atlanta market properties.
“As part of our continuous focus on expense management and efficiency, we are exploring opportunities for consolidating some of our Atlanta properties, including certain leased and owned spaces scattered throughout the Atlanta metro and surrounding areas,” said Kessel Stelling, Chairman and CEO of Synovus. “Our plan would include reducing the number of leases, selling underutilized buildings, and bringing as many team members together in one location as possible.”
This project is consistent with previous work to consolidate space in other markets, including Columbus, the location of the company’s Georgia-based headquarters. Synovus has partnered with the CBRE Group to assist in the research of real estate opportunities in the Atlanta market.
Synovus is a financial services company based in Columbus, Georgia with approximately $27 billion in assets. Synovus provides commercial and retail banking, investment, and mortgage services to customers through 28 locally branded divisions, 271 branches, and 355 ATMs in Georgia, Alabama, South Carolina, Florida, and Tennessee. See Synovus on the web at synovus.com.