LONDON, United Kingdom — Bank giant HSBC will switch global headquarters to London's traditional City finance district, from its current Canary Wharf base in the east of the capital, it said Monday.
The Asia-focused lender, which has encouraged hybrid working since the Covid pandemic, announced in a memo to staff that it will switch to a smaller property near St Paul's Cathedral at the end of 2026.
"We have a preferred option -- Panorama St Paul's, in the City of London," the memo read.
"We will now begin more detailed discussions on a potential lease, with the intention to move in late 2026."
The development, which is currently under construction, is on the site of the former headquarters of British telecoms giant BT.
HSBC had in September launched a strategic review, with the lease on its premises in a 45-storey Canary Wharf skyscraper due to expire in early 2027.