BGC Partners has announced plans to relocate its UK-based headquarters in London which will bring together two of its current offices in the city.
The interdealer broker will move its existing current locations at Canary Wharf at 1 Churchill Place and 40 Bank Street to the new site at 5 Churchill Place in London, after signing leases on around 130,000 sq ft.
“I’m delighted to announce that 5 Churchill Place will be our new UK based headquarters for BGC and Fenics for the foreseeable future,” said Shaun Lynn, president of BGC Partners.
“We are embarking upon a high quality fit out project, which will deliver best in class facilities for our staff and clients for many years to come. The additional capacity also underlines our ambition to continue our programme of strategic corporate acquisitions to expand the BGC group offering.”
Jack Tomlin, partner and Central London Tenant representation at Knight Frank, which represented BGC Partners, added that Canary Wharf continues to offer corporate occupiers unrivalled value for money in the Central London office market.
“New transport infrastructure, coupled with high building specification and local amenities makes the all-round offering very compelling. The transaction also demonstrates the financial services sector’s continued commitment to London in a period of political and economic uncertainty.”
BGC Partners reported record quarterly revenues in the second quarter this year of $960 million, as the broker increased its focus on technology and front office activities.
“We believe that our financial services business has continued to gain market share in 2018, as we benefit from our investment in technology, improved front office productivity, and the ongoing benefits from our successful integration of GFI, Sunrise, and other recent acquisitions,” Lynn said about BGC’s quarterly results.
Last month, interdealer broker TP ICAP also announced plans to relocate its London headquarters to 135 Bishopsgate, bringing together TP ICAP’s Tullett Prebon and the ICAP Global Broking businesses.