Top cyber firm opens headquarters in City to ‘safeguard’ digital UK
Global cybersecurity company Palo Alto Networks has unveiled its new headquarters at the centre of London’s financial district.
The American firm is opening a new office in 22 Bishopsgate, the City’s second highest building after the Shard, to create nearly 500 new jobs and “safeguard the UK’s digital future”.
The rapid widespread adoption of new technologies such as artificial intelligence and machine learning in the UK has spawned a surge in cyber threats.
According to the government’s 2023 cyber security breaches survey, roughly 2.39m cybercrime cases hit UK businesses in the past year, causing losses of up to almost £5,000 on average per incident.
The increase in cyber threats “directly impact the levels of resilience and trust in an interconnected economy,” said Helmut Reisinger, chief executive of EMEA and LATAM at Palo Alto.
“As the UK works towards achieving the government’s ambition of becoming a technology and scientific superpower by 2030, cybersecurity will be critical to its success.
“We look forward to expanding our UK operations as we invest to safeguard the UK’s digital future,” he added.
Palo Alto established its presence in the UK in 2009 and is now focusing on building out its Unit 42 threat intelligence, cyber advisory and incident response capabilities in the UK.
Gavin Mee, vice president of Northern and Western Europe at Palo Alto said: “As the digitalisation of industries in the UK accelerates, cybercriminals are becoming more sophisticated, innovative, and persistent, and we see it as our mission to protect the growth of the UK with the very best cybersecurity platforms.”