A mockup of what Revolut’s new world HQ in Canary Wharf will appear like. The agency mentioned it plans to show its emblem on two indicators on the perimeters of the brand new constructing – mimicking legacy banks like Barclays and Citigroup.
Revolut
British monetary know-how agency Revolut introduced Thursday that it is planning to maneuver its official headquarters in London to Canary Wharf, the town’s main monetary district.
Revolut will relocate its world headquarters to the YY London constructing within the heart of Canary Wharf. The corporate has agreed a 10-year lease for the constructing.
Because of this, Revolut will improve its workplace footprint by 40% to 113,000 sq. ft and take up 4 flooring.
It plans to show its emblem on two indicators on the perimeters of the brand new constructing – mimicking the pattern of legacy financial institution manufacturers, resembling HSBC, Barclays, and Citigroup. Revolut mentioned the indicators stay topic to planning permission.
HSBC not too long ago introduced it could transfer its world headquarters from its 45-storey Canary Wharf tower by 2027 when its present lease expires.
That got here after the agency mentioned it could cut back workplace area by practically 40% globally to chop prices and reply to the pattern of hybrid working.
Canary Wharf is London’s essential monetary district, residence to most of the world’s largest banks, insurers, and different monetary establishments.
Revolut’s announcement comes because the digital banking startup remains to be ready to listen to on the success of its bid for a banking license within the U.Okay., which might allow it to launch lending merchandise resembling bank cards and private loans.
The corporate has been awaiting a inexperienced gentle from metropolis regulators together with the Financial institution of England and the Monetary Conduct Authority since 2021.
Revolut mentioned that its choice to open a brand new world headquarters on the coronary heart of the town demonstrates that the agency stays dedicated to the U.Okay. market.
“This new head office strengthens our commitment to the UK, our home country, whilst also establishing the foundation to support future growth,” Francesca Carlesi, CEO of Revolut’s U.Okay. enterprise, mentioned in a press assertion.
Revolut’s co-founders Nikolay Storonsky and Vlad Yatsenko — the corporate’s world CEO and chief know-how officer, respectively — had beforehand criticized the U.Okay. for having a regulatory atmosphere they characterised as too bureaucratic.
The corporate beforehand dedicated to rising its world workforce by 40% in 2024. Revolut mentioned that it now has over 9 million clients within the U.Okay.
New methods of utilizing workplace area
The information comes as employers debate methods of convincing their workers again into the workplace, following the widespread shift to distant work triggered by the Covid-19 pandemic.
Revolut has mentioned it would stand by its remote-first strategy, which implies that its workers can earn a living from home, however are inspired to return into the workplace for helpful in-person interactions.
