Business

The Toronto-based bank is expanding its footprint to accommodate employees returning to a 4-day workweek policy announced last year.

TD Bank is expanding its office footprint to International Place, following an announcement last year that it is requiring workers to return to the office four days a week. 

According to The Boston Globe, the Toronto-based bank recently signed a 10-year lease for nearly 39,000 square feet across two floors at 2 International Place. The space, the Globe reports, will be nearly twice the size TD occupies at 200 State St. and will fit about 140 people. 

TD Bank announced in a memo to staff last year that executives had to be in the office four days a week, with other employees expected to follow suit. 

The move comes as Fidelity recently announced that its employees will return to the office full-time as it expands its footprint. JP Morgan Chase is already in-person full-time, while Eastern Bank sports a hybrid approach. 

With all of the buzz around returning to the office, Mayor Michelle Wu shared her thoughts with WBUR on Tuesday, saying it was “great news” to hear Fidelity requiring workers to return to downtown. 

The increase in downtown traffic will be a “boost” to small businesses, Wu told WBUR. 

“I know we are always going a little back and forth in employee work-life balance and what that means, and in person versus remote work,” said Wu. “But I know they, and many others, have been seeing real value in collaboration and in the kind of work product, creativity, general culture, and morale that can come from people being in spaces together.” 

Boston continues to see more foot traffic downtown. According to Placer.ai, Boston saw an 11.2 percent increase in office visits in March over last year, but remains 34.3 percent below pre-pandemic levels. 

TD Bank is following suit by bringing more teams into the newly renovated Chiofaro Co. owned International Place building. 

With more than 100,000 employees, TD Bank is the sixth-largest bank in North America. Last year, it reported $68 billion in revenue, up 18 percent from the year before.