Wells Fargo announced its formal plans to expand its Hudson Yards office footprint and create a better, more collaborative employee experience with the purchase of additional space at Hudson Yards. This transaction represents a significant investment in the New York City (NYC) market and an opportunity to bring most NYC-based Wells Fargo employees together in one location for improved collaboration and access to new, more modern workspaces, technology, and amenities.
“This investment further solidifies our long-standing commitment to NYC and will help us create an enhanced, more collaborative environment for our NYC-based employees,” said Wells Fargo CEO Charlie Scharf. “Our new space at Hudson Yards will allow us to bring our Manhattan employees together in one place where they can work in a new, modern workplace as we work to build a stronger company.”
Wells Fargo has engaged the Related Companies, developers of Hudson Yards, to convert the space into a modern, state of-the-art office environment over a three-year period. Approximately 2,300 employees are expected to move to the new space at Hudson Yards from the company’s current office space at 150 East 42nd Street beginning in late 2026. These employees will join the significant Wells Fargo employee base already located there.
Wells Fargo’s new offices will include industry leading features, including a variety of workspace settings for collaborative work and access to leading amenities. Plans include developing a food hall for employees with a rotating local restaurant program, as well as an all-day coffee bar with views of the Vessel and the Backyard at Hudson Yards. The building will also include a dedicated entrance on 10th Avenue and naming rights on the exterior of the property.
“This significant expansion demonstrates both the success of Hudson Yard’s modern lifestyle offices and live, work, play environment, as well as the power of New York City to meet the evolving needs of the world’s most innovative companies,” said Jeff T. Blau, CEO of Related Companies. “New York City is once again a magnet for the best talent, and industry leaders like Wells Fargo recognize the long-term advantage of having dynamic office space at Hudson Yards.”About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 47 on Fortune’s 2023 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, 2 November 2023 | News Release small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Hudson Yards is the newest neighborhood on Manhattan’s West Side developed by Related Companies and Oxford Properties Group. A template for the future of cities, Hudson Yards is Manhattan’s first LEED Gold Certified Neighborhood; home to leading retail brands in every category from luxury to fast fashion, and first-ever stores from popular online retailers; restaurants and food experiences by world-renowned chefs and restaurateurs; dynamic cultural institutions and attractions including Edge, Vessel and The Shed; modern residences offering unparalleled amenities; more than five acres of public plazas, gardens, and groves; the world’s first Equinox Hotel; state-of-the-art commercial office space for industry leaders including KKR, Tapestry, BlackRock and more; and eventually a new 750-seat public school.