Bank of New York Mellon Corp. is negotiating to extend its current London lease instead of finding a new headquarters in the city, Financial Times reported Dec. 13, citing two people briefed on the situation.

The company's lease at 160 Queen Victoria St. is set to expire in 2023. A source told FT that uncertainty surrounding Brexit was a contributing factor to BNY Mellon's decision, but added that there were other reasons for doing so.

BNY Mellon spent the past year considering locations for a new London headquarters for a potential transfer in the early 2020s, according to the report.

The company said it was "not in a position to confirm any details at this time," according to the report.