HSBC’s proposed security measures for its new London headquarters have sparked controversy, despite the bank’s focus on safety. The plan includes a substantial increase in the number of CCTV cameras, from 444 to 1,754, and a doubling of the number of biometric readers used to identify employees and visitors. The strategy, part of HSBC’s “Global Security Strategy,” aims to strengthen security at the new location, near St Paul’s Cathedral, as the bank prepares to leave Canary Wharf in 2027.
Internal documents seen by Reuters reveal that HSBC plans to quadruple the number of cameras and double the number of biometric readers from 350 to 779. The system requires staff and guests to register their handprint to access secure areas. These measures are being taken despite resistance from employees, who largely refused to adopt a new biometric access system in 2022.
HSBC’s move towards enhanced security reflects a broader trend among companies grappling with the challenges of hybrid work arrangements. The rise of remote and flexible working has made it harder for employers to monitor employee attendance. As a result, some organizations are exploring new technologies to track office presence. HSBC itself is in the process of reducing its global office space by 40 percent, in response to the increase in hybrid work arrangements and efforts to cut costs.
HSBC’s security strategy, originally outlined in an internal presentation in May, included installing CCTV cameras at entrances and exits of trading floors and using artificial intelligence to analyze the footage. Since the new building is half the size of the Canary Wharf offices, camera density will be significantly higher. The presentation cited “theft incidents” at the Canary Wharf location as justification for increasing CCTV coverage on the work floors.
An HSBC spokesperson said that employee safety is of utmost importance to the bank’s operations. He emphasized that regular risk assessments are carried out for each building, leading to investments in state-of-the-art technology to protect employees, clients, and visitors, in line with industry standards. By assets, HSBC is the largest bank in Europe and employs 210,000 people worldwide, including 30,000 in the United Kingdom.
