HSBC considers leaving Canary Wharf HQ.
HSBC is considering leaving its iconic Canary Wharf headquarters when its lease expires in early-2027. The bank is carrying out a review of “the best future location in London” for its global headquarters, according to an internal memo seen by Financial News.
HSBC’s options include either renovating its current building or moving to another London location elsewhere.
https://www.msn.com/en-gb/money/other/h ... r-AA12p0GHAt least it seems they're not leaving London?
More on this from elsewhere;
HSBC to review Canary Wharf tower HQ, consider new London base.
HSBC is reviewing whether to keep its global headquarters in London's Canary Wharf, a staff memo seen by Reuters on Thursday showed, a decision which could see the bank swap the financial hub for a new home after more than 20 years.
The bank said it wanted to assess its "best future location in London" ahead of its lease expiring at the 45-floor tower at 8 Canada Square in early 2027.
HSBC, which is currently defending itself against calls for a break-up from its top investor, has long grappled with the optimal location for its business, with some stakeholders urging it to shift its HQ to Asia, where it makes the majority of its profits.
According to the memo, the bank said the review would include the option of staying and renovating the tower which bears its name, but it would keep its global headquarters in London.
HSBC has occupied the skyscraper - one of the tallest buildings in Canary Wharf and an icon of Britain's banking industry - since 2002.
It has been home to up to around 8,000 HSBC employees, some of whom refer to the skyscraper as the 'Tower of Doom'.
Besides flagging a possible relocation, the memo also outlined the lender's approach to hybrid working since the COVID-19 pandemic and was signed by the bank's group chief operating officer John Hinshaw.
"We want our head office to connect people, drive collaboration, foster alternative workstyles and promote wellbeing," the memo read.
"It will be much more digitally enabled to help us work smarter, and will be sustainably designed to help meet our net zero commitments."
HSBC said it would occupy 25% less space in the tower by closing some floors and relocating teams, to lower the cost of running the building and save energy.
A HSBC spokesperson confirmed the contents of the memo.
https://uk.finance.yahoo.com/news/hsbc- ... 30153.htmlMaybe an RNS to follow?
Ian.