US bank Morgan Stanley has renewed the lease on its European headquarters in London's Canary Wharf to 2038.
In a statement, Chris Beatty, the bank’s chief operating officer for Europea, Middle East and Africa (EMEA) said that Morgan Stanley is "looking forward to witnessing the next stages of Canary Wharf's evolution first hand".
He added: "Canary Wharf has been the location for our EMEA headquarters for over 30 years and we're pleased to be extending that tenure.”
The lease extension on the 547,000 square foot serves as a renewed vote of confidence in the financial district at a time when many rivals have been looking to downsize elsewhere in the city.
HSBC last June made waves when it said that it would trade its 45-floor skyscraper in the district for a smaller property in the City of London, causing industry insiders to speculate whether Canary Wharf’s massive offices had lost their allure in a post-pandemic world of hybrid working patterns.
Barclays late last year renewed the lease on its One Churchill Place tower until 2039.
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