NAB ARRIVES IN PARRAMATTA
Today, NAB begins to welcome colleagues to their new work home in the Centre of Global Sydney, at 3 Parramatta Square.
“While we continue to live in communities impacted by COVID-19, we will need to find the right balance between working from 3 Parramatta Square and at home. The wellbeing of our employees remains our top priority and we will maintain the highest standards of health and safety in the office, our branches and business centres. In the beginning, only business critical employees will work from the new office space, but we have every confidence our people will love the new workspace and will enjoy being part of one of Australia’s most diverse and thriving areas when the COVID-19 restrictions ease,” said NAB’s Head of Group Property, Kevin Davine.
Financial Services; Parramatta’s largest industry by output
Financial services already make up a significant part of the city’s emerging professional economy, attracting blue-chip talent to the area and providing 17,000 jobs. The Finance and Insurance Services sector generated $9.09 billion in the 2017/18 financial year – making it the largest industry in the City of Parramatta by output. It has also been the fastest growing industry (in absolute terms) in the city over the past decade, increasing by $3.6 billion since 2007/08.
This economic benefit translates into great opportunities for local residents, who can progress their careers while working from a head office close by. And further Investment in the region will harness the talent of local professionals for years to come. In 2016, PwC projected the sector would generate 3,600 new jobs and an additional $2.2 billion of output by 2021 – a jobs target already quickly met by NAB’s move.
The value of Parramatta
Improving customer accessibility has real benefits for large financial service providers. “Western Sydney is currently home to more than 2 million people – that’s roughly one in every 11 Australians – and projected to grow to 3 million by 2031,” Davine explains. “It is also home to more than 240,000 local businesses, so it absolutely makes sense for NAB to have a strong presence here.”
“We know there is great demand for quality service in Western Sydney and Parramatta is no exception.” The region is already home to more than 300,000 NAB customers which Davine says is rapidly growing. “Our retail branch at Parramatta Square will open in late September, it’s so important for us to be close to our customers in Western Sydney. Parramatta is part of an incredible growth region and being at the centre of activity ensures we’re always listening and learning from our customers,” Davine says.
Being based in the most ethnically diverse region in Australia also gives NAB the opportunity to connect with a much broader customer base. “Nearly one in three residents in Western Sydney are from a non-English-speaking background. Having a base here gives our customers direct access to bankers and brokers with both local and regional knowledge, so they can provide a more personalised approach to their banking needs,” says Davine.
Future-proofing the financial workplace
“As we’ve learned over these past few months in this current COVID-19 environment, while people have been able to sustain working from home, they miss the office workspace. Our commercial buildings are designed to bring out the best in our people so they can collaborate, connect with each other, be inspired and better serve our customers.
3 Parramatta Square spaces and settings have been designed to support the community-oriented focus of our organisation. Smart building features will make it easier and faster for colleagues to navigate throughout their day - built for people, enabled by technology,” says Davine.
“It’s clear to see why the Centre of Global Sydney is such an attractive location for leading financial service institutions,” Davine continues.
As NAB strengthens its presence here, it will also play a vital role in helping the region, communities and customer base continue to grow and thrive.