HSBC Holdings PLC (LSE:HSBA) may leave its Canary Wharf headquarters after more than 20 years, according to a media report.
A staff memo seen by Reuters suggests the bank wants to assess its “best future location in London”, with the lease set to expire in 2027.
According to the memo, HSBC is conducting a review which could result in it staying and renovating the HSBC tower.
The bank is currently facing calls to move its headquarters over to Asia, where it generates most of its profits.
Investor Ping An Insurance Group has been pushing HSBC to spin off its Asian operations, saying it would hope it would perform better in the future after its value has treaded water for the last decade.
Increasingly, UK-based HSBC is turning its attention towards Asia and away from Europe and the US, but analysts are sceptical as to whether Ping An, a large but lone shareholder, could force a shareholder resolution to split the bank.