Banking giants, HSBC is to shift its world headquarters from its 45-storey Canary Wharf tower after two decades and relocate near St Paul’s Cathedral.
HSBC, is to leave 8 Canada Square by 2027 when its current lease expires.
The departure is part of plans to scale down its office space following the pandemic, as the bank says it is now committed to hybrid working.
As per reports, HSBC has told the BBC it is negotiating a new lease on BT’s former headquarters near St Paul’s Cathedral.
The projected new office space is in the Panorama St Paul’s development, which is smaller than the bank’s current headquarters, which has around 8,000 staff.
The City of London Corporation Policy Chairman, Chris Hayward, said: “HSBC’s decision to return here to the heart of the City of London is a huge vote of confidence for the City. This move further solidifies the City’s reputation as a prime destination for financial services firms, offering them unparalleled opportunities.
“Home to world-class talent, expertise and capital, the City is a unique ecosystem that fosters collaboration and growth. We are confident that HSBC will thrive and find great success in one of the world’s leading dynamic and globally connected financial centres.”