The world's local bank
New headquarters officially opened
3 April 2003
HSBC’s new headquarters building in London’s Canary Wharf was officially opened at a reception hosted by Sir John Bond, Group Chairman on 2 April 2003.
The ceremony marked the culmination of an ambitious five-year project, to achieve the vision of a consolidated head office in London. Today, 8 Canada Square, the Group’s worldwide headquarters building, is the largest single occupier building in the UK, housing some 8,000 staff who were previously scattered in 15 different locations around the City of London.
“We wanted the building to reflect HSBC’s character,” said Sir John Bond, at the opening. “Simple, straightforward - and quite big! On the inside, the design was to encourage the teamwork that is so important to HSBC, by enabling our people to interact easily and well with each other.”
Promoting teamwork and achieving business synergies between businesses previously operating from separate locations, were key drivers in the decision to move to a consolidated head office. Sir John Bond was quick to reassure shareholders that the investment would bring sound business benefits. He added: “I should emphasise that the head office function is just a small part of the whole. I would like to reassure shareholders that the vast majority of my colleagues here look after our clients and produce profits for our business. Something like 6% of the world’s foreign exchange turnover comes through HSBC, most of it from this building.”
Emphasising HSBC’s desire to be a ‘good neighbour’ wherever it operates, the Chairman announced a new charitable programme to benefit local children. A half-million pound donation to the Outward Bound Trust will create a five year programme to send 150 children a year from local schools on Outward Bound residential courses. “Like HSBC all around the world we are determined to be good neighbours. We want the local community to benefit from HSBC’s arrival, over and above the day-to-day economic impact of 8,000 people.”
The Group has also undertaken what it believes to be the biggest ever recycling project in Britain, by donating 3,000 tons of redundant office furniture to Green-Works, a local charity who will refurbish and redistribute the furniture to community organisations, schools, charities and business start ups.
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