Revolut moves global HQ to heart of London's financial district as it awaits UK bank license
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 13 2024
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Source: CNBC
- Revolut's Headquarters Move:
- Revolut, a British fintech firm, plans to move its official headquarters from London to Canary Wharf.
- The company will relocate to the YY London building in Canary Wharf, increasing its office space by 40%.
- Revolut aims to display its logo on two signs on the new building, subject to planning permission.
- Canary Wharf Financial District:
- Canary Wharf is London's primary financial district, housing major banks and financial institutions.
- HSBC recently announced plans to move its world headquarters from Canary Wharf by 2027.
- Regulatory Environment and Growth:
- Revolut is awaiting approval for a banking license in the U.K. to expand its services.
- The company's co-founders have criticized the U.K.'s regulatory environment as bureaucratic.
- Remote Work Policy:
- Revolut maintains a remote-first approach, allowing employees to work from home but encouraging office interactions.
- Employers are debating strategies to bring employees back to the office post-pandemic.
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About HSBC
HSBC Holdings plc (HSBC) is a banking and financial services company. Its business segments include Hong Kong, UK, Corporate and Institutional Banking (CIB), and International Wealth and Premier Banking (IWPB). Its Hong Kong business comprises retail banking and wealth and commercial banking of HSBC Hong Kong and Hang Seng Bank. Its UK business comprises UK retail banking and wealth (including first direct and M&S Bank) and UK commercial banking, including HSBC Innovation Bank. The CIB segment is formed from the integration of its commercial banking business (outside the UK and Hong Kong) with its global banking and markets business. The IWPB segment comprises premier banking outside of Hong Kong and the UK, its global private bank, and its asset management, insurance and investment distribution businesses. Its customers worldwide through a network covering 58 countries and territories. Its customers range from individual savers and investors to companies, governments and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
