Capital Group will double the size of its London headquarters by the end of 2023 to prep for a hiring spree over the next decade.
The $2.7trn asset manager will relocate from its current office in Grosvenor Place to new ESG-friendly digs in Paddington Square. Employees will be situated over nine floors spanning 225,000 square feet, a big jump up from its current 100,000 square feet of floor space.
Capital Group said the move would accommodate plans to increase its headcount over the next decade. The asset manager has had operations in the UK for more than 40 years and currently employees 515 associates, including 92 investment professionals, across the country.
“Doubling our office size in London underlines the importance of the UK for Capital Group’s growth strategy,” Guy Henriques, president of Europe and Asia client group, said.
“We’ve been broadening our investment range for clients and intermediary partners over the last few years. This expanded commitment to the UK will enable us to add the talent we need to provide high-quality services to clients in the UK and Europe.”
Like other asset managers that have relocated recently, ESG and sustainability credentials were a factor in Capital Group’s decision making process.
The building has two living green walls, as well as solar panels that will deliver onsite energy and smart technology. In addition, it will have a “state-of-the-art” 150-seater auditorium, a multi-purpose event space and multi-media studio capabilities.
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