The move is part of plans to downsize its office space following the Covid-19 pandemic, as the bank says it is now committed to flexible working. HSBC has told the BBC it is negotiating a new lease on BT's former headquarters near St Paul's Cathedral.
The proposed new office, in the Panorama St Paul's development, will be much smaller than the bank's current headquarters, which houses about 8,000 staff.
HSBC said the new development "is being designed to promote wellbeing and constructed to best-in-class sustainability standards, using predominantly repurposed materials".
HSBC moved to Canary Wharf in 2002, having previously been based at sites in the City of London.
HSBC's decision to return to London's historic financial district within the Square mile is a "huge vote of confidence for the City", said the City of London Corporation policy chairman, Chris Hayward.
