Thu, 27 Nov 2025

Thu, 27 Nov 2025 Banking giant to build £10bn tower at Canary Wharf

One of the world's largest banking firms announces plans to build a new HQ "bigger than the Shard".

* JP Morgan Chase plans to build a new £10bn tower in Canary Wharf, with twice the space of Britain's current tallest building.
* The 3 million sq ft building will hold around 12,000 staff and be the firm's largest presence in Europe, Middle East and Africa (EMEA).
* Construction is set to take six years and will begin once necessary approvals are obtained.
* The decision is seen as a boost for the UK economy, with an independent study estimating it could contribute £9.9bn over the next six years.
* Chancellor Rachel Reeves called the move a "multi-billion pound vote of confidence in the UK economy".
* JP Morgan's CEO Jamie Dimon said the UK government's focus on economic growth was a critical factor in their decision to build the new tower.
* The firm is considering options for its existing 33-storey tower in Canary Wharf and will sell it when it moves into the new building.
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