For years, the private office has been rumored to be on its way out—an outdated symbol of hierarchy incompatible with today’s flexible work expectations. But the reality we’re seeing inside financial institutions tells a more nuanced story.

The private office isn’t dead. It’s evolving.

At NELSON Worldwide, our recent work with a range of financial organizations—from boutique wealth managers to multinational banks—reveals a clear shift. Companies aren’t abandoning the private office; they’re rethinking its purpose, placement, and performance. And in doing so, they’re aligning physical space with strategic priorities like talent attraction, operational agility, and culture-building.

 

Three Models, One Goal: Strategic Alignment

Across hundreds of thousands of square feet of workplace strategy and design, three distinct private office models are emerging:

 

  1. Traditional: The Legacy Stronghold

Corner offices with custom furniture, panoramic views, and generous square footage still exist—but primarily where individual achievement and hierarchical recognition are central to the firm’s DNA. These are most often found in boutique wealth management firms, where personal preference often shapes the space more than policy. When done right, these environments feel prestigious, not antiquated.

  1. Adapted: Democratizing Light, Preserving Leadership

Larger institutions are rebalancing. At several major firms, up to 100% of private offices have been moved to the interior of the floor plan. This bold shift reclaims window lines for shared spaces and common lounges, making daylight and views available to everyone—not just the C-suite. The private office remains a valuable tool for heads-down work or sensitive conversations, but its location and footprint signal a broader cultural shift: one that values collaboration and equity without eliminating privacy.

  1. Progressive: The Status Symbol Is Flexibility

Some of the most forward-thinking banks have replaced the private office altogether with bookable focus rooms and multi-use spaces. Designed with premium acoustics, lighting, and tech, these spaces support hybrid work habits and real-time space optimization. Flexibility becomes the new executive privilege—something all employees can access when needed. For organizations that can support this model with strong change management, the payoff is significant: more dynamic teams, more efficient footprints, and a culture that says adaptability is leadership.

 

Which Model is Right for You?

There’s no one-size-fits-all approach. Each model is valid, but only one will align best with your firm’s values, structure, and vision for the future. Our recommendation? Pilot programs. Test what works before scaling. Let data and feedback shape the next generation of private offices within your portfolio. Because at the end of the day, private offices aren’t just about space. They’re about signaling what—and who—your company values.

The private office isn’t over. It’s being redesigned to perform.