HSBC to ditch Canary Wharf tower in favour of central London - memo

Europe's largest bank told staff its preferred option was to move to the redeveloped former offices of telecoms firm BT, a development known as Panorama St Paul's. The bank began a review to assess its "best future location in London" last year, Reuters reported, ahead of its lease expiring at the 45-floor tower at 8 Canada Square in early 2027.

HSBC has decided to leave its long-standing headquarters in Canary Wharf in east London in favour of a move to a much smaller office in the centre of the city, according to a memo seen by Reuters. Europe's largest bank told staff its preferred option was to move to the redeveloped former offices of telecoms firm BT, a development known as Panorama St Paul's.

The bank began a review to assess its "best future location in London" last year, Reuters reported, ahead of its lease expiring at the 45-floor tower at 8 Canada Square in early 2027. The Times first reported HSBC's decision earlier on Monday.