13 September 2018

HSBC Singapore to relocate its headquarters to MBFC

HSBC Singapore has announced that it will be relocating its head office to Marina Bay Financial Centre (MBFC) Tower 2, within the Central Business District, to accommodate the company’s rapid growth plans.

HSBC Singapore will have signage rights to the building. It will also be investing substantially in the new workplace to create an environment that is conducive to collaboration; encourages innovation and an entrepreneurial mindset; and triggers new ways of working for our employees.

HSBC at Marina Bay Financial Centre

“We are very pleased that HSBC will join us at Marina Bay Financial Centre (MBFC). As a key component of Singapore’s position as a leading global and innovative business hub, MBFC continues to attract world class companies to Asia’s best business address” says Ben Robinson, CEO, Raffles Quay Asset Management.

Mr Cripps continues: “HSBC in Singapore will undergo a number of workplace and cultural changes that will transform the way our employees communicate, engage and work with each other. The new space will not only reflect our company goals but also focus on delivering quality service to all our customers.”

In March this year, HSBC Singapore announced a new three-year strategic plan with a focus on eight strategic priorities and included a 10% increase in headcount over the period across all business lines1.

More recently at HSBC’s global strategy update in June, Singapore was one of only eight markets amongst HSBC’s 66 countries that was classified as a ‘scale market’2 into which Group investment will be channeled to support material growth.

Mr Cripps adds: “As a scale market, Singapore is key to HSBC’s global growth plan. Our new premises will ensure we can meet our people, technology and workplace requirements that will be needed to carry out this business expansion, and reflect our ambitions in the market.”

“This is an exciting time for HSBC Singapore and marks a huge milestone for the company, its employees and customers who will all benefit from the opportunities this expansion presents.”

HSBC Singapore will occupy approximately 140,000 sf over the top floors on the 50-storey building. Fit-out work is expected to commence in the second half of 2019, with target occupation by April 2020. MBFC has won many accolades for its achievements towards environmental sustainability under the BCA Green Mark Platinum awards, which is in line with HSBC’s own sustainability agenda.

1 Straits Times: “HSBC ramps up investment and hiring to grow market”

2 HSBC Strategy Update: Return to Growth and Value Creation – Investor Presentation, June 2018, slide 9