IFRS Foundation to move offices to Canary Wharf

The IFRS Foundation, the governance and oversight body of the International Accounting Standards Board (IASB), has confirmed it is to stay in London with a planned move to new offices in London’s Canary Wharf during the summer of 2018

The Foundation’s lease on its current building at 30 Cannon Street is due to expire in September 2018 and the regulator began the hunt for a new home at the beginning of this year.

There had been speculation that it might look for a European venue such as Paris, Brussels or Frankfurt in the wake of Brexit, but the Foundation said: ‘The decision to move to the Columbus building in Canary Wharf reflects the need to seek an appropriate balance between cost efficiency and meeting the organisation’s needs for the future.’

At the same time as the Foundation heads to London’s docklands, the Financial Conduct Authority (FCA) will be leaving its offices there and moving to new premises in Stratford, east London.

Several pan-European bodies have announced overseas moves in anticipation of Brexit. In November 2017, the European Banking Authority confirmed it would be relocating to Paris from London, while the European Medicines Agency, with its 900 Canary Wharf-based staff, will move to Amsterdam by March 2019 at the latest.

Report by Pat Sweet

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