Hypo Alpe-Adria Bank, the Austrian banking group, has sold one of two buildings that house its private banking operations, in a bid to manage all private banking operations out of one building.

The firm has sold its branch building in Palais Equitable and going forward will conduct its private banking operations out of it premises situated on the Parkring.

Although the unit will be downsizing in terms of space, the firm said “all private banking activities will continue in their entirety” and that there will be no job losses as a result of the relocation.

The contract details are to remain confidential as per the agreement with the purchasers, the firm said in a statement.