Since its founding in 1865, HSBC has come to be known for its adaptability, progressive approach, embrace of innovation and aspiration to help create a better world for its customers and employees. All of those qualities were evident in the bank’s decision to relocate its U.S. headquarters.

HSBC had spent the past three decades in a Midtown Manhattan high-rise that was built in 1985. The bank considered renovating that space, but after identifying and prioritizing their goals for the refresh, they opted to relocate instead. Moving into a new space would eliminate the disruption and complexity of renovating an active office and make it easier to achieve the employee wellbeing, sustainability and cost reduction objectives underlying the change.

For their new U.S. headquarters, HSBC wanted to create a destination designed for their employees’ needs, replicating the amenities, ease of access and dynamism of their current location, but with a greater focus on wellbeing. The bank also wanted their new home to foster engagement and collaboration through the human experience and digital technology, while providing transactional value and supporting ongoing cost management. Finally, in keeping with HSBC’s ambitious Net Zero Transition Plan, the new workspace would also have to be in an energy-efficient building.

HSBC employees were surveyed to gauge how they felt about their current office and engaged them in visioning sessions to brainstorm how their ideal workplace would look and function. A dedicated ‘Test and Learn’ space was created to gather feedback on employee preferences for elements like lighting, furniture and music. Capturing these small but important details saved HSBC time and money, allowing them to invest in the right designs and make the new space feel more inclusive and customized.

After working with JLL’s location analytics team, HSBC decided to relocate to The Spiral, a newly constructed 66-story office building in Manhattan’s Hudson Yards. The building’s distinctive features, including outdoor terraces on each floor, open floor plates and ample natural light, enhance the workplace experience while strengthening employee collaboration, creativity and wellbeing. Employees can access the building directly from a major subway line, and the surrounding neighborhood is dotted with hundreds of shops and restaurants.

A below-market lease was secured for the Hudson Yards space, with a rent concession package of 36 months. Additionally, the green provisions of the lease achieved platinum recognition as Green Lease Leaders for Sustainability, and the U.S. Department of Energy recognized the acquisition for negotiating and incorporating green clauses into the lease.