In the 1970’s, new areas of business coupled with the introduction of computers, led to the introduction of the new type of employee, one who had possibly never worked in a branch. From being charged primarily with the function of a centralised decision making hub that would oversee the branch network, the head office rapidly became an entity on its own. Furthermore, highly skilled employees that were both expensive to train and maintain would pose a challenge once the economic limit on salaries was reached. Therefore the bank had to find ways of providing a working environment that would both attract and retain employees once monetary reward was maxed out. Today this forms an integral part of the bank’s total reward strategy that looks at all elements of reward that the new age employee seeks and not just monetary compensation.

In the early 1980’s, Mike Henderson, then head of the premises division set out to establish an estate management policy for the group’s non-branch activities in Johannesburg. The problem was that there were too many buildings scattered all over Johannesburg city (28 office sites) and the cost of maintaining these buildings was funded by the bank’s profits. Adding to the complications of managing multiple premises was the costs incurred every time divisions were reorganised.

Work began in the mid 1980’s when a few individuals set out to investigate and sell the concept of a new complex that would be large enough to absorb all the existing employees within the various premises as well as accommodate future expansion.

Henderson’s plan was to acquire a large piece of land and put all the new buildings in a consolidated block of property. For most this seemed rather extravagant as the proposal would have meant the single largest investment in the bank’s 150 years of existence.

On 29 February 1988 the project took the leap from research to a firm building project. The Urban design phase was set for completion between March and July 1988, the concept brief to be completed and approved between March and September and the appointment of a principle architect together with an architectural team in place between March and May.

The Master Architect and leader of the Concept-design architectural team was Revel Fox of Revel Fox and Partners CC. His team consisted of Anya and Macek Miszewski and urban planner, Peter Seidel, who was involved in the development of Battery Park in New York. Steve Thorn, an FNB Architect was also seconded to the team.

The decision to build in four blocks with Simmons Street pin between the blocks gave the effect as if BankCity were the gateway to the city.

The initial thinking was that the first phase would comprise the construction of three blocks by mid 1991 to accommodate existing staff dispersed across the different premises in the city. The fourth block would be scheduled for completion in mid 1993.

The decision to build in the city centre did not come about by default but rather as a result of extensive research. Three other areas were considered in the initial stages namely, Sandton, Midrand and other areas in the south such as Rosebank/Parktown and Bruma.

Midrand may have been the ideal location due to it being central to both Johannesburg and Pretoria however very little land was zoned for office space and there was poor transport service for staff that depended on public transport

Sandton, based on the fact that it was becoming a popular area for high profile businesses, seemed the ideal location. However there were very few open spaces large enough to accommodate a project the size of BankCity. Land prices were high and here again public transport was an issue.

The other areas posed similar issues and after research revealed that more than half of the staff lived to the South and Southwest of Johannesburg, along good public transport links, it was decided that the CBD was the best option.

On 20 June 1989 the LTA construction company was awarded the R126 million contract to build the BankCity complex.

On 25 April 1992, the first phase of BankCity was officially opened. The first two buildings were completed and fully occupied and operational. The then president FW De Klerk was invited to officially open BankCity, unveiling the plaque below the arched entrance to First Place.

By the end of September 1995 the fourth block was fully occupied. The entire project came in at R82 million below budget.

Today, over 7000 employees reside in the BankCity precinct.