Harvey Nash Invests in London's Future
London Mayor, Boris Johnson hails Harvey Nash's decision to retain its global headquarters in London.
Harvey Nash, the global professional services group, has chosen to retain London as its global headquarters when it relocates offices later this year. Harvey Nash, a finalist in the Orange Mid Cap Business of the Year Awards, has over 6,000 consultants and highly skilled technology freelance specialists in 40 offices across three continents.
As a mark of its confidence in the City of London's pre-eminence as an international business hub, Harvey Nash will re-locate from its current Mayfair HQ to Heron Tower, EC2. The Group is expected to invest up to £2m in capital expenditure and new technology over the next five months. The total lease expenditure is likely to exceed £10 million over the next 10 years.
As part of the selection process, the Group shortlisted cities such as New York, Dublin, Zurich and Hong Kong as potential locations for its new headquarters. The decision to choose London as its base for the next decade was based on the following critical factors:-
- Talent. London will remain the human capital hotspot of the world attracting not only highly skilled young people from all over the UK and Ireland but increasingly, becoming the destination of choice for many top graduates from Asia and Europe.
- Silicon Roundabout. London has one of the fastest growing and most innovative online media sectors in the world outside of California. In particular, Shoreditch and east of the City are becoming globally pre-eminent in this hugely important digital and mobile market.
- Business friendly. We are encouraged that the UK's international competitiveness has been prioritised in policy making by the Mayor of London and the Coalition Government.
- Competitive position. Although much more needs to be done, when ranked against comparative locations in Europe and the USA, corporate tax rates are on a downward trend and the UK's flexible labour market is recognised by both main parties as a strategic asset, particularly when compared to mainland Europe.
- UK expansion. Harvey Nash has recently opened new offices in Manchester and Edinburgh and expanded in Leeds and Birmingham. We see the UK's unique creative and digital skills base benefitting from global mobile and technology convergence trends.
- Iconic location, 21st century facility. The new relocation at Heron Tower combines cutting edge design including state of the art carbon reduction and sustainability features, with easy access to the West End, Docklands and City Airport.
Mayor of London, Boris Johnson, said:
"This is a great example of an ambitious, truly global company recognising why London is the best big city to do business. The commitment shown by Harvey Nash is a great sign of confidence in the capital and will provide a welcome boost for jobs and the wider economy. By moving to the Heron Tower they have chosen a stunning location for their new home, right in the heart of the City."
Albert Ellis, CEO of Harvey Nash, said:
"London is a fantastic location for all British companies who are exporting services and expanding internationally. Access to a highly skilled workforce combined with a 21st century facility such as the Heron Tower supports our mobile workforce and in our view it's the best anywhere in the world.
"And the UK as a whole is on the up. The government's focus on emerging markets and in particularly China, is in line with our strategy as we expand from our base in Vietnam into China and Australia in the first half of 2012. In Asia, London is highly regarded by businesses and governments alike. The opportunity to benefit from the Group's association with Britain's most valuable asset is significant. We are very proud to remain in London."
17 February 2012
Tel: 020 7333 0033
Albert Ellis, Chief Executive Officer
Richard Ashcroft, Finance Director
Tel: 020 7457 2020