Deutsche Bank to move into Revolut's Canary Wharf headquarters, FT reports

Dec 6 (Reuters) - Germany's Deutsche Bank has opted to take about 250,000 square feet of London's Canary Wharf office space in a building that carries  the logo of British fintech Revolut, the Financial Times reported on Saturday.

The German bank will take about twice as much space in the YY building on South Colonnade as Revolut, the report said, citing people familiar with the matter.

Deutsche Bank declined to comment on the report. Canary Wharf Group referred Reuters to asset manager Oaktree Capital Management, which owns the building, when asked for a comment. Oaktree declined to comment.

Oaktree bought the building in a joint venture with real estate firm Quadrant Estates in 2019, according to Quadrant's website. Quadrant could not be reached for comment.

Revolut became the first tenant of the building last year, taking on 40% more floor space for its new headquarters.

Canary Wharf Group, which runs the wider financial district and is co-owned by QIA and Canada's Brookfield, was hit by the pandemic-induced fall in office demand. The area has rebounded as more firms push staff to return to the office.

Visa is relocating its European headquarters to the district, Canary Wharf Group said on Friday.

JPMorgan Chase last week made public a plan to build a tower in Canary Wharf that it said would contribute 9.9 billion pounds ($13 billion) over six years to the local economy - including the cost of construction - and create 7,800 jobs.

($1 = 0.7502 pounds)

(Reporting by Angela Christy and Gnaneshwar Rajan in Bengaluru; Editing by Sam Holmes, William Mallard and Barbara Lewis)