LONDON, June 26 (Reuters) - HSBC has decided to leave its longstanding 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 switch will be seen as a blow to the Canary Wharf financial district, where a 45-floor skyscraper has been HSBC's home for more than 20 years.
Panorama St Paul's is a 556,000 square foot development featuring roof gardens overlooking St Paul's Cathedral, according to the development's website, and is substantially smaller than the tower HSBC currently occupies.
Canary Wharf Group, which runs the east London financial district, declined to comment.
Persons:
Iain Withers, Toby Chopra, Jason Neely
Organizations:
HSBC, Reuters, BT, The Times, Canary, Canary Wharf Group, Thomson
Locations:
Canary Wharf, London, Europe's, St Paul's