Business

Barclays to move investment bank staff into London HQ

Barclays (BARC.L) said on Wednesday it will move its investment bank staff in London into its nearby headquarters, consolidating office space in the Canary Wharf financial district.

The British bank said it would vacate 5 North Colonnade, where the investment bank is based, by the end of 2022 and plans to renovate its towering 32-story One Churchill Place building.

Barclays said the move was part of a long-term review of its property footprint, as banks worldwide cut back on real estate amid a shift to more home working during the COVID-19 pandemic.

The bank has in recent years been shifting from scattered locations across countries in which it operates into a ‘campus’ model of consolidating offices in one place.

In 2018 Barclays opened such an office complex in Whippany, New Jersey, bringing together operations and technology staff from across the Americas.

It also has campuses in Glasgow, Scotland and Pune in India.