Both organisations have reviewed office requirements following the Coronavirus pandemic and decided it was more efficient to share space.
The two professional bodies say despite the co-operation they will remain legally separate and the CII said today there have been no merger talks.
The CII will sub-let part of the CISI’s existing office space at the Walkie Talkie building at 20 Fenchurch Street from early 2021.
Both bodies are members of the Chartered Body Alliance and have co-operated for a number of years although they remain rivals when it comes to Financial Planning qualifications. The CII offers the Chartered Financial Planner designation and the CISI the Certified Financial Planner qualification.
The CII said being physically closer together will allow both organisations to continue to serve members and customers “in a new era.”
To make room for the CII, the CISI will remodel its existing space to create a new physically separate offices for the CII for a lease of five years and will form the main headquarters for both international organisations.
The CII currently has offices in South Woodford, Essex, and Lombard Street in central London. Both premises will be vacated by the end of December 2020.
The CISI will split remote and office working for their London-based staff.
The CII had already established an ‘Anytime Anywhere’ approach to working, which has enabled the move to take place.
Simon Culhane Chartered FCSI and chief executive of the CISI, said: “This is collaboration and cooperation in action and a great opportunity for both organisations. During 2020 we have learnt the benefits of our staff being able to work remotely and how this positively contributes to productivity and well-being.
“Therefore we have taken a decision to remodel our existing property footprint by creating two separate offices on our floor. We are delighted that this change has offered us a positive new opportunity.”
Sian Fisher, chief executive of the CII, said: “The Walkie Talkie will be a modern and dynamic business hub for us, which meets the evolving needs of our organisation with community space for staff and visitors, both on our floor and from other features of the building like the Mezzanine and Sky Garden. We look forward to being neighbours of our sister professional body CISI from 2021.”
The office can accommodate 150 people at any one time and the CII will sublet space for 60 staff (40% of the total). Staff from the two organisations will, however, work in separate offices.