Deutsche Bank to move into Revolut's Canary Wharf headquarters, FT reports

Reuters
12/06
UPDATE 2-Deutsche Bank to move into Revolut's Canary Wharf headquarters, FT reports

Updates with Deutsche Bank declining to comment in paragraph 3

Dec 6 (Reuters) - Germany's Deutsche Bank DBKGn.DE has opted to take about 250,000 square feet of London's Canary Wharf office space in a building emblazoned with the logo of British fintech Revolut, the Financial Times reported on Saturday.

The German bank will take about twice as much space in the YY building on South Colonnade as Revolut, the report said, citing people familiar with the matter.

Deutsche Bank declined to comment on the report while Canary Wharf Group did not immediately respond to Reuters requests for comment outside business hours.

Canary Wharf Group, which runs the wider financial district and is co-owned by QIA and Canada's Brookfield BN.TO, was hit hard by the pandemic-induced fall in office demand. The area is now enjoying a rebound as more firms push staff to return to the office.

Visa V.N is relocating its European headquarters to the district, Canary Wharf Group said on Friday.

JPMorgan Chase JPM.N last week unveiled a plan to build a tower in Canary Wharf that it said would contribute 9.9 billion pounds ($13 billion) over six years to the local economy - including the cost of construction - and create 7,800 jobs.

($1 = 0.7502 pounds)

(Reporting by Angela Christy in Bengaluru; Editing by Sam Holmes and William Mallard)

((AngelaChristy.M@thomsonreuters.com;))

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