HSBC headquarters demolishes Executive Office

Noel Quinn, CEO of HSBC (29.59, 0.32, 1.09%), said the bank had demolished the executive floor of its London headquarters, turning the private office of senior executives on this floor into a meeting room for customers and a space for cooperation.

HSBC headquarters demolishes Executive Office

Qi Yaonian said in an interview that he and other executives have now been “kicked out” of their 42 floor offices and will use a mobile desk on the open floor of the lower two floors.

 

Qi Yaonian said that the offices at HSBC headquarters are empty half the time because senior staff travel around the world, which is “a waste of real estate”.

 

Qi Yaonian said that he would not stay in the office five days a week, so the special office became “unnecessary” and “this is the new reality of life”. A representative of HSBC confirmed Qi Yaonian’s words.

 

Mr. Qi said HSBC expects to eventually reduce its real estate space by 40% and does not intend to renew many downtown leases that will expire in the next three to five years. He said that in addition to the bank outlets, the bank will also implement the policy of sharing about two employees at each desk.

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