US Citibank has chosen Canary Wharf in London’s Docklands as the site for a planned £200m-£300m UK headquarters. It will be the first large building to be constructed there since the development fell into administration in 1992. It plans a new 46,450sq m (500,000sq ft) block which will house about 2,500 corporate banking and capital markets employees. Detailed negotiations with Canary Wharf are expected to be completed by the end of October.
Its architect Sir Norman Foster has more than doubled his salary in the last year, according to the accounts of his company Foster Holdings. He earned £457,294 in the year ended April 1995 against £209,984 the previous year. The company reported a 21% jump in pre-tax profits to £1.2m during the period.
- The Independent 29/08/96 page 17, p 19 (Comment)
- The Guardian 29/08/96 page 22
