HSBC to move to smaller City of London headquarters due to hybrid working

The bank, which aims to move to the former head office of BT, says it wants to reduce its global office space by 40%

HSBC is to move out of its global headquarters in Canary Wharf after more than two decades to considerably smaller offices in the City of London, in response to post-pandemic hybrid working arrangements and a cost-cutting drive.

The financial services giant, which had up to 8,000 staff at the 45-floor tower at Canada Square during peak times before the pandemic, is to move to the former head office of telecoms company BT near St Paul’s cathedral.