SINGAPORE: Change Alley Mall at Raffles Place has been renamed CIMB Plaza after the Malaysian bank officially opened its new offices above the premises on Wednesday (Jun 1).
"CIMB Singapore is proud to be part of this rich history, and owning the naming rights of CIMB Plaza will further solidify CIMB’s footprint in Singapore," said the bank in a news release.
An iconic landmark in Singapore's central business district, Change Alley was thought to be named in 1890 after a trading hub called Exchange Alley in London.
It was known to be a thriving market where the likes of moneychangers as well as gambier and pepper traders gather to do business.
Before moving to 30 Raffles Place last December, CIMB Singapore had been at Singapore Land Tower for 12 years.
In a speech at the naming ceremony on Wednesday, CIMB Singapore CEO Victor Lee said that the shift gave them the opportunity to build an office that is "adapted to the future of work".
"A world of new normal of flexible work arrangements, of hot desking and co-working space, the need for agility and teams to collaborate more intimately," he said.
CIMB Singapore has about 1,000 employees located at two offices premises, one at 30 Raffles Place and the other at Changi Business Park.
It previously shut its branch in Orchard Road following a review of its business and resources.
CIMB said: "In designing our new office, we factored in hybrid workplace requirements to cater to work-from-home and work-in-office, leveraging on our digitalisation capabilities.
"We wanted to take advantage of moving into a Green Mark-certified building to develop an open concept workspace that was clean, safe and sustainable."