JPMorgan Chase to construct new London HQ

JPMorgan Chase has announced plans to build a new 278,709 m2 tower in London, intended to be its primary UK headquarters and most significant EMEA presence.

JPMorgan Chase Riverside View

This project, subject to regulatory approvals and a positive business environment, is projected to contribute £9.9 bn (€11.6 bn) to the UK economy over six years and create 7,800 jobs in construction and related industries.
Designed by UK architects Foster + Partners and co-developed by Canary Wharf Group, the building will be located on the Riverside development in Canary Wharf. It will accommodate up to 12,000 employees and feature amenities such as collaboration spaces, state-of-the-art trading floors, wellness areas, and extensive public parkland. 
The construction is expected to take six years, during which JPMorgan Chase will also upgrade its existing 25 Bank Street building. 
In collaboration with Canary Wharf Group, plans include new public parkland surrounding the building, a redevelopment of the Canary Wharf dock, and improved access to the Riverside area of Canary Wharf. 
Jamie Dimon, chairman & CEO of JPMorganChase, said: “London has been a trading and financial hub for more than a thousand years, and maintaining it as a vibrant place for finance and business is critical to the health of the UK economy. This building will represent our lasting commitment to the city, the UK, our clients and our people. The UK government’s priority of economic growth has been a critical factor in helping us make this decision.”
Shobi Khan, CEO of Canary Wharf Group, added: “We are delighted that JPMorganChase has once again chosen Canary Wharf as their primary UK location. The scale and ambition of this scheme - set to become the largest office building in London - demonstrates the continued momentum behind Canary Wharf’s evolution and JPMorganChase's commitment to outstanding workplaces.”
JPMorganChase currently operates in London primarily from two main buildings that it owns: 25 Bank Street in Canary Wharf and 60 Victoria Embankment in the City. It also leases space at One Cabot Square. London-based employees will consolidate in the new building as well as the existing property at 60 Victoria Embankment, and the firm will consider its options for 25 Bank Street.