COLUMBUS — Reports from the Atlanta Business Chronicle have Columbus leaders worried after the publication reported the bank is moving its headquarters from Columbus to Atlanta.
Synovus Financial Corp. emphatically stated to the Columbus Ledger Enquirer that it is not moving.
The report came from “unnamed sources” within Synovus that the bank would be constructing a new headquarters near the site of the new Atlanta Braves stadium in Cobb County. However, later in the day, when confronted by these concerns, the publication changed the story to reflect what Synovus had stated; the bank headquarters is staying in Columbus and was only looking for a new consolidated operations center.
However, Synovus also later stated that it had no plans to relocate the company’s headquarters from Columbus to Atlanta and has no commitment to any site or project.
“As we have stated before, 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,” the company told the Ledger Enquirer. “This project is consistent with previous work to consolidate space in other markets. We have no commitment to any particular site, location, or development at this time.”
Synovus, parent company of Columbus Bank & Trust, was founded in Columbus. Synovus’ roots date to 1888, when it was founded as a company bank in the former Eagle & Phenix textile mill. That led to formation of Columbus Bank and Trust, today the dominant bank in Columbus.
The bank did state, though, that they are continually searching for efficiencies, and that includes operations.
“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,” Kessel Stelling, Synovus chairman and chief executive officer, told the paper in October.
“Our plan would include reducing the number of leases, selling underutilized buildings, and bringing as many team members together in one location as possible,” he said.
Synovus does business through its 28 locally branded divisions in Georgia, Alabama, Florida, South Carolina and Tennessee. At last count, it had about 4,500 employees company wide, with about 1,400 in the Columbus market, spread among its corporate headquarters and local bank operations.
