Citi to Transform EMEA Headquarters in Major London Refurbishment – 27.01.22

• Citi Tower project demonstrates confidence in London as a global financial centre
• One of the largest workplace refurbishments in Europe
• Citi purchased office tower in Canary Wharf in 2019

Citi today announced its intent to transform its London headquarters, home to its UK and EMEA (Europe, Middle East and Africa) operations. The refurbishment of the iconic Citi Tower in Canary Wharf will create a stunning workplace for the future, incorporating the latest technology and the highest standards of environmental design. With flexible work and collaboration spaces, alongside well-being zones for employees, the transformation of Citi Tower represents Citi’s enduring commitment to its people, to London, and to delivering excellence for its clients around the world.

“Our aim is to create an environmentally sustainable, innovative and exciting place to work, incorporating modern design, state-of-the-art technology, and best practices in employee and client spaces,” said David Livingstone, Citi’s EMEA CEO. “Citi Tower is a significant investment in our people and our growing business in the UK and the broader EMEA region.”

Citi purchased the 42-story office tower at 25 Canada Square in 2019 in a demonstration of its commitment to London as its EMEA headquarters and a vital global hub for the bank.

Citi Tower will be refurbished to reflect the changing nature of work, with even greater emphasis on shared spaces where colleagues can come together. “We’re a business of energy and ideas, and we thrive on bringing people together,” said Livingstone. “Our rejuvenated EMEA headquarters will be designed to maximise collaborative work-spaces, supported by technology, to enable us to work flexibly and with maximum agility.”

The renovation is expected to be completed in 2025.

John Glen MP, the Economic Secretary to the Treasury and City Minister, said: “We are delivering on our roadmap for ensuring the UK remains a world leader in financial services by making it more open, more competitive, more technologically advanced, and more sustainable. This welcome investment from Citi in its London HQ is another vote of confidence in the City and its role as one of the preeminent international finance hubs.”

The environmental impact of the new Citi Tower has been central to the planning and design. The decision to refurbish the building and bring it up to modern efficiency and environmental standards instead of demolishing the existing structure is expected to save the release of an estimated 100,000 tonnes of embodied carbon, the equivalent of running almost 22,000 family cars for a year.* Updating infrastructure and implementing efficiency measures will also minimise electricity consumption and reduce water consumption by 20%.

Citi Tower is among the largest workplace refurbishment projects in Europe and the bank will be applying for the project to become the UK’s tallest office refurbishment project to gain high-level LEED, WELL and BREEAM certifications.**

Yasmin Al Ani Spence, Director at architectural firm WilkinsonEyre, lead designer of the project, said: “Citi challenged us to make a 20-year-old tower compatible with its vision for the future of work. Our architectural interventions will hopefully inspire both staff and visitors to Citi. Well-being has been put at the heart of the project by introducing innovative collaboration spaces, enhanced connection, state-of-the-art amenities, and impactful access to greenery, promoting biophilia. The internal layouts are anchored around a number of vertical villages, which break down the traditional floorplates and encourage inter-connection between levels, creating a stimulating and exciting place to work.”

The refurbishment will also create more public space in Canary Wharf. The new ground floor will enable visitors to traverse between Canada Square and Jubilee Park, two of the significant green spaces within the estate.

Shobi Khan, CEO of Canary Wharf Group said: “I am delighted Citi is making a long-term commitment to Canary Wharf as a dynamic and sustainable urban environment in which to work, live and play. With our commitment to sustainability and our track record as the UK’s largest developer of sustainable space, it is exciting to see Citi’s initiative to transformation its site.”

* According to EPA annual carbon emissions for average family car are 4.6 tonnes per year.

** LEED, WELL and BREEAM are leading, global third-party infrastructure and building ratings and assessment methods that certify assets according to the highest standards in multiple criteria. These include, but are not limited to, energy and water efficiency, impact on ecosystems, use of resources and health.

ENDS

For further information, please contact:

Allister Fowler
Citi
E: allister.fowler@citi.com