Associated Bank to consolidate Chicago offices

Green Bay, Wis.-based Associated Banc-Corp. is consolidating its Chicago operations into one larger office in the West Loop from four other buildings in the market.

About 150 Associated Bank employees are moving to the 35,000-square-foot new office at 525 W. Monroe St. The bank has signed a lease to occupy the top two floors of the 25-story tower, and it also will open a full-service bank branch on the first floor of the building.

The move is expected by July, Breck Hanson, executive vice president and head of commercial real estate for Associated, told Crain’s Chicago Business. The deal includes options for expansion.

“In the next one to five years, we anticipate 200 to 250 employees in that space,” Hanson said. The bank is seeking “greater market share in all of our businesses.” The move involves office employees in Associated Bank’s commercial lending, commercial real estate, wealth management and private banking businesses.

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