HSBC considers quitting global headquarters in Canary Wharf with lease set to expire early 2027
HSBC could quit its global headquarters in Canary Wharf.
In a memo sent to staff, the bank said it wanted to assess its best future location in London ahead of its lease expiring at 8 Canada Square, a 45-floor tower, in 2027.
HSBC, which is defending itself against calls for a break-up from its top investor, has been urged by some stakeholders to shift its HQ to Asia, where it makes the majority of its profits.
London HQ: HSBC’s lease at the 45-floor tower at 8 Canada Square expires in early 2027. In a memo sent to staff, the bank said it wanted to assess its ‘best future location in London’
The bank said the review would include the option of staying and renovating the tower, but it would keep its global HQ in London.
It has occupied the building, one of the tallest buildings in Canary Wharf and an icon of Britain’s banking industry, since 2002.
The skyscraper has been home to up to around 8,000 staff, some of whom refer to it as the ‘Tower of Doom’.
HSBC confirmed the contents of the memo.