The majority of people who know about Canary Wharf probably know that the riverfront area of London is home to one of the highest structures of its kind in the UK The One Canada Square building. In actual it is a modern business center that has several towers that house offices of multinational corporations. Some of the giant corporations which have set up their operations within Canary Wharf comprise banks and law firms, brokerage firms and hotels. However, the current state of the city was not always this way.
in the late 1940s the wharf on the Isle of Dogs was a significant port for fruit traders from the Mediterranean and Canary Islands. You can imagine, this is the reason why the location was referred to as “Canary Wharf’. The decline in the fruit industry prompted cities like London to amend its zoning laws in the year 1980. This change allowed for the building of high-rise structures within the vicinity. The result is 1.5 million square feet of office space.
Therefore, it’s no surprise to find numerous institutions within Canary Wharf. This article focuses on the top ten banks that have branches in the area.
- Hongkong and Shanghai Banking Corporation
- Barclays
- JP Morgan Chase
- Deutsche Bank
- Credit Suisse Group AG
- Citigroup Inc
- ANZ Bank
- Bank of America
- Morgan Stanley
- State Street Bank and Trust
1. HONGKONG AND SHANGHAI BANKING CORPORATION
Despite its name, HSBC is a British multinational investment bank and financial services holding bank based in London. With an asset base totaling 2.1 trillion pounds and a market capitalization of 131 billion pounds, HSBC is the 7th largest bank in the world. This bank was founded by Sir Thomas Sutherland in 1865.
HSBC has a large service portfolio and offers commercial banking, retail banking, wealth management and global private banking for individuals and corporate bodies. This mega banking corporation also has a substantial stake in the stock market.
You can find HSBC offices in the One Canada building in Canary Wharf. The Bank of New York Mellon, an American investment bank, also has offices in this same building.
2. BARCLAYS
If you are an avid soccer fan, then you are definitely familiar with the official sponsor of the English Premier League, Barclays. This British owned multinational investment bank has London as its base of operations. As of the 25th of February 2020, the total market capitalization of Barclays bank is 29.02 billion pounds. With annual revenue of 16.7 billion pounds and an asset base worth 1.24 trillion pounds, this bank is one of the largest global banks.
Barclays offers several financial services including personal banking, wealth management, corporate banking, and investment banking. The bank’s global headquarters are located in the One Churchill Place building in Canary Wharf.
3.JP MORGAN CHASE
With a total market capitalization of 301.8 billion pounds and an asset base totaling 2.02 trillion pounds, JP Morgan is the world’s most valuable bank. This New York-based American multinational investment bank has offices in the 25 Bank Street building in Canary Wharf.
The financial services that you can expect from JP Morgan Chase bank include investment banking, asset management, private banking, and private wealth management. The bank also offers treasury services that involve providing corporate financial officers with information on investments and other business transactions.
4.DEUTSCHE BANK
The offices of Deutch Bank are located in the 10 Upper Bank Street building in Canary Wharf. This Frankfurt-based German investment bank, with a market capitalization of 14.1 billion pounds and an asset base of 1.24 trillion pounds as of July 2019, is certainly a major player in the global banking scene.
Deutsche Bank’s range of financial services is divided into three categories which are corporate and investment banking, private and commercial banking and asset management.
5.CREDIT SUISSE GROUP AG
Credit Suisse Group AG is yet another European banking corporation with offices in London’s second-largest financial hub. The company’s UK offices are located in the 1 Cabot Square building in Canary Wharf.
Credit Suisse has a market capitalization totaling 23.6 billion pounds and an asset base amounting to 609 billion pounds. This Swedish bank, whose headquarters are in Zurich, Switzerland, will offer you a wide array of financial services. The services include wealth management, private banking, and asset management.
6.CITIGROUP INC
Citigroup is yet another American multinational investment banking corporation with offices in Canary Wharf. This US bank is also headquartered in New York City. Its offices in London are in the 25 Canada Square building.
The bank’s market capitalization totals to 118 billion pounds with the asset base amounting to 1.6 trillion pounds. The range of financial services you can expect from Citigroup Inc is limited to asset management and investment banking.
25 Canada Square-Citigroup-3-American-multinational investment bank and financial services provider based in New York
7.ANZ BANK
ANZ Bank is the third-largest bank in Australia in terms of asset base with 688 billion pounds. The bank has a market capitalization totaling 57.2 billion pounds. This bank is certainly not average.
ANZ Bank has offices in the 40 Bank Street building in Canary Wharf and shares the premises with two other foreign banks, China Construction Bank and Saxo Bank. You will benefit from commercial and retail banking services when you visit the offices of this Australian bank.
8.BANK OF AMERICA
It’s a no brainer that the Bank of America has its headquarters in the US. This multinational investment bank has its headquarters in Charlotte, North Carolina. The banks Canary Wharf offices are located in the 8 Canada Square building.
The Bank of America has a market capitalization totaling 213 billion pounds and an asset base of 221 billion pounds. The range of services that these bank offers include mergers and acquisitions, payment management, risk management, personal banking, and corporate banking.
9.MORGAN STANLEY
With a market capitalization totaling 61.9 billion pounds and an asset base amounting to 698 billion pounds, Morgan Stanley is a notable multinational investment bank. This New York-based bank has its Canary Wharf offices in the 25 Cabot Square building.
A visit to Morgan Stanley’s London offices avails you several financial services including investment management, institutional securities and wealth management.
10.STATE STREET BANK AND TRUST
State Street Bank and Trust depart from the other banks in this list in that it is primarily a custodian bank. The range of financial services offered by this American multinational bank revolves around protecting private and corporate financial assets. You can, therefore, rely on this bank to safeguard collective investment funds, mutual funds, and pension funds.
With a market capitalization of 20 billion pounds and an asset base of 189 billion pounds, State and Street Bank and Trust is indeed a capable provider
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