HSBC to move global headquarters from Canary Wharf

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HSBC is set to move its global headquarters from Canary Wharf to a smaller office in central London after its lease expires, the lender told its staff on Monday.

The bank said in a memo seen by the Financial Times that its preferred option was to move to Panorama St Paul’s in the City. It said it expected to relocate to its new office in late 2026. The building was formerly an office for telecoms group BT and was redeveloped by Orion Capital Managers.

HSBC said the move to a smaller, more central office, which was first reported by the Times, would help it meet its net zero commitments and allow for flexible working.

It comes as many companies look to downsize to more central offices in a bid to reduce cost and adapt to hybrid working.