„Including the cost of construction, the project could contribute £9.9 billion ($13 billion) over six years to the local economy, including an additional 7,800 jobs across construction and other local industries
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The new building would house up to 12,000 people and serve as the firm’s principal headquarters in the UK and its most significant presence in Europe, the Middle East and Africa (EMEA). JPMorganChase is a major employer in the UK with 23,000 employees there in total
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JPMorganChase already contributes nearly £7.5 billion ($9.8 billion) annually to the local economy, supporting 38,000 jobs across surrounding industries
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The building would be one of the largest and most sophisticated in Europe with more than three-million square feet (Gross Internal Area) of space, reinforcing London’s status as a leading financial centre on the global stage
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Plans are subject to a continuing positive business environment in the UK and the firm receiving the necessary approvals and agreements
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In addition to its physical footprint, JPMorganChase plans to expand its business activity in the UK, bringing its Security and Resiliency Initiative to the country, which will provide dedicated financing to key strategic areas such as: defence and aerospace, energy independence and the supply chains for critical minerals and advanced manufacturing
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The building is being designed by British architects, Foster + Partners, who also designed the firm’s iconic global headquarters at 270 Park Avenue in New York City. Its construction is expected to take six years and will begin as soon as necessary approvals and agreements are in place. Canary Wharf Group is working as co-developer on the project, and the firm is being advised independently by Sir George Iacobescu.“