10:14 AM EST, 12/04/2024 (MT Newswires) -- (Updates with Wells Fargo ( WFC ) statement in the fifth to seventh paragraphs.)

Wells Fargo ( WFC ) is looking to sell the building that serves as its headquarters in San Francisco and has started informal talks with potential buyers, The Wall Street Journal reported Tuesday.

The report attributed the move to the company's transition to the East Coast.

A Reuters report said Wells Fargo ( WFC ) confirmed in an email that it does not plan to move out of San Francisco and its corporate headquarters will remain within the city.

An unnamed source familiar with the matter told Reuters that the building can be listed on the market within the month.

"Wells Fargo's ( WFC ) corporate headquarters remains in San Francisco, and we have no plans to move it out of the city," the company told MT Newswires.

The company said it continually evaluates its real estate portfolio as part of its multiyear effort for a "stronger, more efficient Wells Fargo ( WFC )."

"Bringing more San Francisco employees together at our 333 Market Street location will create a more collaborative work environment through access to more modern workspaces, enhanced technology, and amenities," Wells Fargo ( WFC ) said. "This office centralization will also help strengthen our culture and sense of community at work."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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