JP Morgan is planning a major move in the City of London and has entered into exclusive talks with the City of London and property developer Hammerson to agree terms for the construction of a new EMEA headquarters, according to an internal memo obtained by WealthBriefing. The talks, on JP Morgan’s plan to build a new office tower between London Wall and Fore Street, just northeast of its current Aldermanbury/London Wall campus will last for 90 days and should result in a final agreement leading to construction. The new building, which would be home to both the investment bank and the private bank, would be more than one million square feet, with four trading floors, each 72,000 square feet and the largest in London. JP Morgan expects to occupy the building in late 2011, according to the memo.