The lender has already started to engage in informal conversations with potential buyers and its office in the city’s financial district could be put on the market as soon as this month, the report added citing people familiar with the matter.

Wells Fargo is set to sell its San Francisco headquarters, part of a broader shift in the bank’s power base to the East Coast. The office at 420 Montgomery St. in San Francisco’s Financial District could be put on the market as soon as this month,

Wells Fargo plans to sell its headquarters building in San Francisco and relocate to nearby offices, citing a need for a more collaborative work environment.