HSBC is moving its UK headquarters from Canary Wharf back into the City of London as it adjusts to the impact of hybrid work on its office space needs.
This could signal the reverse of the 1990s trend of banks moving out of the City in search of buildings more suited to modern banking. The City’s “Square Mile” financial district is considered the historical centre of British banking. But space and planning restrictions on building expansions made a move to Canary Wharf very appealing as banks navigated the new world of electronic trading, starting in the 1980s.
