Will HSBC Leave its Iconic Canary Wharf Home?

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03 October 2022 | Updated 05 October 2022

Leaked memos suggest that the banking giant is considering whether to keep its global HQ at HSBC Tower when the lease expires in 2027.

HSBC has occupied the 45-storey skyscraper at 8 Canada Square since 2002, but a memo seen by Reuters states that the bank wants to assess its "best future location in London”. Signed by Chief Operating Officer John Hinshaw, the memo reads:

"We want our head office to connect people, drive collaboration, foster alternative workstyles and promote wellbeing. It will be much more digitally enabled to help us work smarter, and will be sustainably designed to help meet our net-zero commitments."

CEO Noel Quinn announced in February 2021 that HSBC would be shedding its office footprint by forty per cent, but would still maintain a city presence.

Reuters also reports that HSBC is considering remaining and renovating the tower.

HSBC Tower – At a Glance

• HSBC tower is reportedly referred to as the “Tower of Doom” by some members of staff.
• The building is home to around 8,000 HSBC employees.
• The entrance to 8 Canada Square features two bronze lions, nicknamed Stephen and State.
• The tower is 210 metres tall. On completion in 2002, it was the second tallest building in the UK.
• When HBSC tower was sold to Metrovacesa in 2007, it was the first British building to be sold for more than £1 billion

Picture: a photograph of HSBC tower. Image Credit: Pixabay

Article written by Ella Tansley | Published 03 October 2022

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