Dive Brief:

• Manhattan contractors could be busy this spring renovating office space for big banks as they expand, modernize and move.

• The banks, which were once the city's largest commercial tenants, have stayed put and scaled back on real estate since the recession. Now, Bloomberg reported, financial industry icons like Deutsche Bank, HSBC Holdings and Wells Fargo are looking for more square footage and possibly new construction.

• The banks likely will do some large-scale remodeling to update their quarters and make more efficient use of their space in an effort to stay profitable.

Dive Insight:

One large landlord told Bloomberg the recession forced some of the banks to “giv[e] up dollops of office space.” Consolidations and expiring leases have prompted the latest activity.