Greek Banks’ HQs Eye Central Athens, After Coastal Relocation Set Aside

Initial thoughts by two out of four Greek systemic banks to relocate their executive headquarters to the so-called “Athenian Riviera”, the coastal southeast Athens expanse set to host the massive Ellinikon property development and a new metropolitan park, appear to have been set aside.

Eurobank, for instance, last week announced that its top management team has already been relocated to the Bodosakis Building, renamed the “Eurobank Headquarters”, a noted structure on the corner of Omirou and Stadiou avenue in the heart of Athens.

The fully renovated building, billed now as a “green” work space, will host some 100 of the ATHEX-listed bank’s top staff. According to Eurobank, the headquarters will also feature a state-of-the-art conference room in its ground floor, one designed by Microsoft.

Eurobank recently purchased the historic Athinaion Melathron building, at the corner of Stadiou and Kolokotroni street adjacent to the Old Parliament, for 52 million euros last summer from a Saudi Arabian investment group. This building is set to house the bank’s mid-level administrative staff in the next two to three years.

On its part, ATHEX-listed Piraeus Bank will move its top offices to the former headquarters of now defunct Agriculture Bank, as it acquired the “healthy” assets for the latter in 2013. The building in question is located on Amerikis street, and is known as the Serpieri Mansion, named for a 19th century Italian mining tycoon based in Athens. Built in 1884, it was Giovanni Battista Serpieri’s residence until his death in 1897. It was purchased by the newly established Agriculture Bank of Greece in 1929 to serve as its main branch.

According to reports, Piraeus plans to fully renovate the property, leaving the neoclassical façade untouched but creating a 21st century business center in its interior.

Finally, Attica Bank, a non-systemic lender in the country, will have its headquarters transferred to the Civil Engineers Contractor Fund (TMEDE) building, also in central Athens. The specific pension fund was the former majority owner of Attica Bank.