HSBC Grapples With Shortage of 7,700 Desks at New London HQ

As HSBC Holdings Plc prepares to move into a new London headquarters as early as next year, executives are grappling with how to handle a more severe desk shortage than they previously anticipated in the new, smaller building.

Senior managers have informed executives that under one relocation scenario being explored, the new Square Mile headquarters building would face a shortfall of 7,700 desks for staffers, according to people familiar with the matter. That’s an even more acute shortage than earlier in-house projections of less than 5,000, the people said, asking not to be identified discussing internal deliberations.