Citi to Transform EMEA Headquarters in Major London Refurbishment
Citi today announced its intent to transform its London headquarters, home to its UK and EMEA (Europe, Middle East and Africa) operations. The refurbishment of the iconic Citi Tower in Canary Wharf will create a stunning workplace for the future, incorporating the latest technology and the highest standards of environmental design. With flexible work and collaboration spaces, alongside well-being zones for employees, the transformation of Citi Tower represents Citi’s enduring commitment to its people, to London, and to delivering excellence for its clients around the world.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220125006049/en/
Conceptual image Citi Tower Interior (Graphic: Business Wire)
“Our aim is to create an environmentally sustainable, innovative and exciting place to work, incorporating modern design, state-of-the-art technology, and best practices in employee and client spaces,” said David Livingstone, Citi’s EMEA CEO. “Citi Tower is a significant investment in our people and our growing business in the UK and the broader EMEA region.”
Citi purchased the 42-story office tower at 25 Canada Square in 2019 in a demonstration of its commitment to London as its EMEA headquarters and a vital global hub for the bank.
Citi Tower will be refurbished to reflect the changing nature of work, with even greater emphasis on shared spaces where colleagues can come together. “We’re a business of energy and ideas, and we thrive on bringing people together,” said Livingstone. “Our rejuvenated EMEA headquarters will be designed to maximise collaborative work-spaces, supported by technology, to enable us to work flexibly and with maximum agility.”
The renovation is expected to be completed in 2025.
John Glen MP, the Economic Secretary to the Treasury and City Minister, said: “We are delivering on our roadmap for ensuring the UK remains a world leader in financial services by making it more open, more competitive, more technologically advanced, and more sustainable. This welcome investment from Citi in its London HQ is another vote of confidence in the City and its role as one of the preeminent international finance hubs.”
The environmental impact of the new Citi Tower has been central to the planning and design. The decision to refurbish the building and bring it up to modern efficiency and environmental standards instead of demolishing the existing structure is expected to save the release of an estimated 100,000 tonnes of embodied carbon, the equivalent of running almost 22,000 family cars for a year.* Updating infrastructure and implementing efficiency measures will also minimise electricity consumption and reduce water consumption by 20%.
Citi Tower is among the largest workplace refurbishment projects in Europe and the bank will be applying for the project to become the UK’s tallest office refurbishment project to gain high-level LEED, WELL and BREEAM certifications.**
Yasmin Al Ani Spence, Director at architectural firm WilkinsonEyre, lead designer of the project, said: “Citi challenged us to make a 20-year-old tower compatible with its vision for the future of work. Our architectural interventions will hopefully inspire both staff and visitors to Citi. Well-being has been put at the heart of the project by introducing innovative collaboration spaces, enhanced connection, state-of-the-art amenities and impactful access to greenery, promoting biophilia. The internal layouts are anchored around a number of vertical villages, which break down the traditional floorplates and encourage inter-connection between levels, creating a stimulating and exciting place to work.”
The refurbishment will also create more public space in Canary Wharf. The new ground floor will enable visitors to traverse between Canada Square and Jubilee Park, two of the significant green spaces within the estate.
Shobi Khan, CEO of Canary Wharf Group (CWG) said: “I am delighted Citi is making a long-term commitment to Canary Wharf as a dynamic and sustainable urban environment in which to work, live and play. With our commitment to sustainability and our track record as the UK’s largest developer of sustainable space, it is exciting to see Citi’s initiative to transformation its site.”
* According to EPA annual carbon emissions for average family car are 4.6 tonnes per year.
** LEED, WELL and BREEAM are leading, global third-party infrastructure and building ratings and assessment methods that certify assets according to the highest standards in multiple criteria. These include, but are not limited to, energy and water efficiency, impact on ecosystems, use of resources and health.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: https://blog.citigroup.com/ | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About Citi Tower:
Citi Tower will be a cutting-edge, flexible, carbon dioxide-efficient workplace that is fit for the future. The Citi Tower project is expected to be the UK tallest office refurbishment project to gain LEED platinum, WELL platinum and BREEAM excellent certifications.
When completed, Citi Tower is expected to be the most carbon-efficient building in Citi’s real estate portfolio and home to 9,000 colleagues in London, as well as the bank’s EMEA headquarters.
Energy efficiency and generation:
- Citi Tower will be updating infrastructure and implementing efficiency measures to minimise electricity consumption.
- Installation of solar panels on the roof is forecasted to generate 52,577 kWh per annum, enough carbon dioxide-free electricity to power 18 average UK homes1 for one year.
- Citi Tower has a future-proofed design to meet proposed 2030 efficiency standards.
Modernisation and refurbishment:
- The decision to refurbish the building and bring it to modern efficiency and environmental standards instead of demolishing the existing structure is expected to save the release of an estimated 100,000 tonnes of embodied carbon.2
100,000 tonnes of embodied carbon would be equivalent to:
- 1,653,521 tree seedlings grown for 10 years.
- Running 21,748 family cars for a year (According to EPA 3 annual carbon emissions for average family car are 4.6 tonnes per year).
- Fixtures selected are expected to reduce water consumption by 20%4.
A greywater system will be implemented, where water will be collected from hand-wash basins and showers and reused in flushing toilets and urinals, reducing Citi’s impact on potable water. This recycling system will save an estimated 29.5 m³ per day of greywater, or 10,767.5 m³ per year, which is:
- enough water for 66 UK households per year5.
- enough water to fill 4.3 Olympic pools6.
Waste and material use:
- At a minimum, 95% of project waste to be diverted away from landfill.
- Refurbish and reuse materials on site to reduce waste as well as embodied carbon.
- Responsible Sourcing - Materials and furniture with Environmental Product Declarations (EPDs) are being prioritised, where possible.
- Targeting Platinum certification in the WELL Building Standard. The standard focuses on 10 key areas (air, water, nourishment, light, movement, thermal comfort, sound, materials, mind, community) and supports employee productivity and health.
- Creation of winter garden & health gardens.
Local Community Support
- The auditorium will be designed and positioned to be accessible to community organisations.
- The refurbishment will create employment and apprenticeships in Docklands.
1Average electricity UK home 2021 resource, data from OFGEM: https://usave.co.uk/energy/how-much-energy-does-the-average-uk-household-consume/#:~:text=in%20your%20area.-,How%20many%20kWh%20does%20the%20average%20home%20use%20in%20the,kWh%20of%20gas%2C%20per%20month.
2 Source AECOM.
3 Resource: Greenhouse Gas Equivalencies Calculator | US EPA.
4 Against LEED baseline.
5 10,767.5/164 = approx. 66 (https://www.onaverage.co.uk/consumption-averages/average-water-usage)
6 10,767.5/2,500 = approx. 4,300; Olympic pool size: 2,500 cubic meters
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Allister Fowler Allister.email@example.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Import Prohibition in Europe as Result of Search and Seizure by French Court17.5.2022 03:00:00 EEST | Press release
Seoul Viosys (“SVC”) (KOSDAQ: 092190), a subsidiary of Seoul Semiconductor Co., Ltd., has won a patent litigation against a European home appliance distributor that infringed its Violeds technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220516005048/en/ Violeds technology applied to air purification solutions (Graphic: Business Wire) In February 2022, Seoul Viosys filed patent litigation against FTHMM International B.V., a Netherlands trading company, in The Hague District Court of the Netherlands, seeking a preliminary injunction against the sales of infringing UV LED products. The asserted patent relates to Violeds technology that can effectively disinfect water, air space, and surfaces by using ultraviolet lights. According to the cease and desist declaration approved by the court, FTHMM acknowledged infringing Seoul Viosys’ patent and will be required to cease all sales of infringing UV LED products and destroy
Conviva Announces Streaming Audience Measurement Standard Leveraging Comprehensive, Continuous, Census-level Technology16.5.2022 21:21:00 EEST | Press release
Conviva, the Continuous Measurement Analytics platform for streaming media, today announces it will unveil a streaming audience measurement standard to be released for general availability at CES 2023. This expansion is in partnership with premium streaming providers using Conviva’s real-time cloud sessionization technology. The new standard provides census-level streaming audience ad packaging and measurement that is complimentary and interoperable with linear TV allowing streaming providers to compete at scale with the digital walled gardens solutions competing for ad budgets today. Conviva’s platform currently processes nearly 3 trillion streaming data events daily, supporting more than 500 million unique viewers watching 200 billion streams per year across 4 billion applications streaming on devices. “Audience measurement represents the streaming industry’s biggest opportunity and Conviva’s technology definitively unlocks its potential,” comments Keith Zubchevich, CEO of Conviva. “
Verimatrix Anti-Piracy and Threat Defense Experts To Highlight Latest Innovations at CABSAT and TT CS16.5.2022 18:45:00 EEST | Press release
Regulatory News: Verimatrix, (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced participation in two leading conferences this month: European Medical Device and Diagnostic Software Development and Compliance Conference (TT CS) – May 17-18 – Brussels, Belgium TT CS is Europe’s only dedicated conference for medtech cybersecurity professionals. Held at the Sheraton Brussels Airport Hotel, the event features two Verimatrix speakers. Nicole Lua, sales director, is scheduled to serve as moderator for a “Security By Design” roundtable at 1:35 p.m. on May 17. Neal Michie, director of product management, is scheduled to discuss the prevention of threats associated with unmanaged and quasi-managed devices during a session slated for 10:15-10:50 a.m. on May 18. CABSAT – May 17-19 – Dubai, UAE CABSAT is the most established and respected trade platform for broadcast, satellite, entertainment content & digital media sectors across
“Our Future is Light” Campaign Kicks off 2022 International Day of Light16.5.2022 18:03:00 EEST | Press release
An action-packed video styled as a blockbuster-movie trailer provides the linchpin for this year’s International Day of Light (IDL) campaign, “Our future is light. Play your part.” Released today, Day of Light features diverse characters successfully solving global-level problems using photonics-enabled technologies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220516005150/en/ Sponsored by SPIE, Optica, and IEEE Photonics Society, this year’s International Day of Light celebration showcases exciting, critical career opportunities in optics and photonics. (Graphic: Business Wire) Three professional societies – SPIE, the international society for optics and photonics, IEEE Photonics Society, and Optica, Advancing Optics & Photonics Worldwide – partnered to create the video and the accompanying 2022 IDL campaign. “Our future is light. Play your part” promotes the importance of light-based technologies and interesting careers
NielsenIQ Launches Retail Media Solution to Monetize Assets and Measure ROI for Retailers16.5.2022 17:01:00 EEST | Press release
Today, NielsenIQ, a global information services company, announced the launch of NielsenIQ Activate; a software-as-a-service (SaaS) solution that enables retailers to accelerate revenue opportunities through retail media and comprehensive customer insights that activate shoppers with personalized promotional offers. NielsenIQ Activate is comprised of dedicated applications for hyper-targeted audience building, offer and ads management, and end-to-end measurement. This SaaS tool, part of the NielsenIQ Connect platform, will allow retailers to create sustainable revenues by monetizing their retail media assets across physical and digital channels. Additionally, retailers will be able to boost credibility with brands and inform them of the insights they need to command their customers’ attention, act on those insights, and measure the ROI of their activities across all channels. “We are devoted to continuing our legacy by defining the next century of consumer and retail measurement,” says
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom