JPMorgan Takes Move to Build New London HQ

Tom Burroughes

4 August 2008

JP Morgan, the US banking group, has entered talks to build a new European headquarters at the Canary Wharf financial district in the docklands area of East London, joining a number of large banking groups already doing business in the area.

The bank has entered into exclusive talks and signed terms with the Canary Wharf Group for the building, to be located at Canary Riverside South. JPMorgan said the move will allow it to bring together operations currently spread among a number of locations in London.

It is expected that JPMorgan will move into the Canary Wharf offices in early 2013, if the agreement to build the headquarters succeeds, a source familiar with the matter told WealthBriefing. Initially, investment bank employees will be based in the building.