JP Morgan Private Bank has moved into new UK headquarters, located at 1 Knightsbridge, a prestigious West End building which is now home to the bank’s 200 client-facing employees, along with a flagship client centre.

Previously headquartered at 125 London Wall, JP Morgan Private Bank has outlined ambitious growth plans for the UK, aiming to increase its headcount by 50 per cent by 2014. JP Morgan has been vocal in reiterating its commitment to London and the UK in recent times, announcing in December that its investment banking arm had purchased new headquarters in Canary Wharf. A date has yet to be set for the investment banking unit's move from 10 Aldermanbury.

JP Morgan Private Bank is not the only wealth manager on the move; at the start of this week Rathbone Brothers announced it is to move to a new address at 1 Curzon Street in London’s Mayfair district – a move expected to incur a non-recurring charge of up to £5 million (around $8 million).

The firm will move from its existing premises in New Bond Street by the end of February next year, increasing the firm’s effective office space capacity by around 10 per cent.