Revolut strikes world HQ to coronary heart of London’s monetary district because it awaits UK financial institution license


A mockup of what Revolut’s new world HQ in Canary Wharf will appear to be. The agency stated it plans to show its brand on two indicators on the perimeters of the brand new constructing – mimicking legacy banks like Barclays and Citigroup.


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 middle of Canary Wharf. The corporate has agreed a 10-year lease for the constructing.

In consequence, Revolut will improve 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 perimeters of the brand new constructing – mimicking the development of legacy financial institution manufacturers, corresponding 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 scale back workplace house by almost 40% globally to chop prices and reply to the development of hybrid working.

Canary Wharf is London’s foremost monetary district, house to lots of the world’s largest banks, insurers, and different monetary establishments.

Revolut’s announcement comes because the digital banking startup continues to be ready to listen to on the success of its bid for a banking license within the U.Ok., which might allow it to launch lending merchandise corresponding to bank cards and private loans.

The corporate has been awaiting a inexperienced mild from metropolis regulators together with the Financial institution of England and the Monetary Conduct Authority since 2021.

Revolut stated that its resolution to open a brand new world headquarters on the coronary heart of the town demonstrates that the agency stays dedicated to the U.Ok. 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.Ok. enterprise, stated 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.Ok. 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 prospects within the U.Ok.

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 can stand by its remote-first strategy, which signifies that its staff can work at home, however are inspired to return into the workplace for priceless in-person interactions.

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