Royal Bank of Scotland Group said it will leave its current London headquarters by the end of 2019 in a cost-cutting move, according to a Reuters report.

RBS will seek to sell the current London HQ.

Many staff will move from the RBS HQ at 280 Bishopsgate in the City of London to another RBS building at 250 Bishopsgate, a bank statement said.

Remaining staff will move to other offices.

“As we become a simpler, smaller UK-focused bank and as we encourage more flexible ways of working, we no longer require the same amount of office space as we once did,” an RBS spokesperson said.

“We will be exiting 280 Bishopsgate by the end of 2019 which will further reduce our property costs in London.

“We will be revamping our nearby office at 250 Bishopsgate later in the year to accommodate more staff and to create a better, more flexible working environment.”