The move to scale down its sprawling headquarters fits into a wider trend. The lender says it hopes to relocate in late 2026, a few months before its Canada Square lease expires in early 2027. Its new HQ will be just 556,000 square feet. The bank has long been a mainstay of Canary Wharf, where it occupies 1.1 million square feet of office space. In 2016, the bank decided to stay in London, rejecting calls to relocate to Asia, which generates the vast majority of its profits. Paul’s, a new development currently under construction in the City of London, the UK capital’s historic financial district. (HSBC) plans to move from 8 Canada Square to Panorama St. It follows similar moves by other big companies to get rid of expensive office space in cities around the world. ![]() HSBC is halving the size of its global headquarters and moving out of Canary Wharf, a business district built in the abandoned docklands of east London in the 1980s.Įurope’s biggest bank confirmed Monday that it would give up the lease on its prominent tower of 40-plus stories in favor of a much smaller building closer to the city center.
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