A mockup of what Revolut’s new world HQ in Canary Wharf will seem like. The agency stated it plans to show its brand on two indicators on the edges of the brand new constructing – mimicking legacy banks like Barclays and Citigroup.
Revolut
British monetary expertise agency Revolut introduced Thursday that it is planning to maneuver its official headquarters in London to Canary Wharf, 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 enhance its workplace footprint by 40% to 113,000 sq. toes and take up 4 flooring.
It plans to show its brand on two indicators on the edges of the brand new constructing – mimicking the pattern of legacy financial institution manufacturers, comparable to HSBC, Barclays, and Citigroup. Revolut stated the indicators stay topic to planning permission.
HSBC just lately introduced it will transfer its world headquarters from its 45-storey Canary Wharf tower by 2027 when its present lease expires.
That got here after the agency stated it will cut back workplace house by almost 40% globally to chop prices and reply to the pattern of hybrid working.
Canary Wharf is London’s important monetary district, dwelling to lots 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 comparable to 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 stated that its determination to open a brand new world headquarters on the coronary heart of town demonstrates that the agency stays dedicated to the U.Okay. market.
“This new head workplace strengthens our dedication to the UK, our dwelling nation, while additionally establishing the muse to help future progress,” Francesca Carlesi, CEO of Revolut’s U.Okay. enterprise, stated in a press assertion.
Revolut’s co-founders Nikolay Storonsky and Vlad Yatsenko — the corporate’s world CEO and chief expertise officer, respectively — had beforehand criticized the U.Okay. for having a regulatory setting they characterised as too bureaucratic.
The corporate beforehand dedicated to rising its world workforce by 40% in 2024. Revolut stated that it now has over 9 million clients within the U.Okay.
New methods of utilizing workplace house
The information comes as employers debate methods of convincing their staff again into the workplace, following the widespread shift to distant work triggered by the Covid-19 pandemic.
Revolut has stated it’ll stand by its remote-first method, which signifies that its staff can make money working from home, however are inspired to return into the workplace for worthwhile in-person interactions.
