Synovus Financial Corp. is consolidating a technology operations and business intelligence team in a Front Avenue office building.
Greg Hudgison, spokesman for the Columbus-based regional bank, said about 200 employees will be moved to the site from other offices in the city later this year after renovations are done.
City of Columbus building permits show $1.9 million is being spent on the work, with Brasfield & Gorrie the general contractor.
The project includes revamping 27,694 square feet of space inside the building at 1101 Front Ave. Thats near the banks corporate headquarters in the Synovus Centre overlooking the Chattahoochee River.
As part of our normal course of business, we are creating additional efficiencies by consolidating teams into leased office space already occupied by other Synovus team members, Hudgison said via email.
He said Synovus and W.C. Bradley Co., which owns and leases the office space to the bank, are both picking up the tab for the construction.
Synovus, which has downsized its five-state work force in recent years, now employs 1,331 people in the Columbus area. That includes its corporate staff, Columbus Bank and Trust, CB&T of East Alabama, and staff on Fort Benning. Companywide, it had about 4,800 on its payroll at the end of March.
The bank, which reports its second-quarter earnings data July 25, has said it is close to repaying the $968 million it owes the federal Troubled Asset Relief Program (TARP). Chairman and Chief Executive Officer Kessel Stelling said that move could come in the current July-September quarter.