Just over 20 years ago, HSBC moved into its new headquarters in the former docklands area of Canary Wharf in London, a silvery tower designed by the leading architects Foster + Partners that was then the second tallest in Britain. It was a financial factory for 8,500 workers, built with precisely the dimensions and the regularity, as well as what was called a “sophisticated multi-tier lift system”, that were thought essential for one of the world’s biggest banks.
Last week, HSBC announced that, when its lease expires in 2027, it will move back to the City of London, where it was based before the move to Canary Wharf, to offices about half the size of its present ones, described by an industry expert as “smaller, greener, more flexible” and “more convenient”.
