JPMorgan Chase Unveils Plans for a Landmark Three-Million-Square-Foot Tower in London, Reinforcing Its Long-Term Commitment to the UK and Global Finance
In a bold demonstration of confidence in the United Kingdom’s economic future and London’s enduring status as a global financial powerhouse, JPMorgan Chase has announced its intention to build a new, state-of-the-art three-million-square-foot tower in the heart of Canary Wharf. The proposed development, set to become one of the most significant corporate construction projects in the country, is envisioned to support up to 12,000 employees and further strengthen the bank’s extensive presence across Europe, the Middle East, and Africa (EMEA).
This ambitious project marks a transformative chapter in the firm’s decades-long relationship with the UK. As one of the world’s largest financial institutions, JPMorgan Chase has played a central role in London’s evolution as a global hub for investment banking, trading, wealth management, and fintech innovation. The new tower, pending regulatory approvals and the continuation of a stable and supportive UK business environment, promises to enhance that legacy by establishing a world-class workplace designed for the future of financial services.
A Landmark Development to Anchor JPMorgan Chase’s UK Headquarters
The proposed tower will be located at the Riverside development in Canary Wharf, an area that has become synonymous with modern finance and global business connectivity. Once completed, it will serve as JPMorgan Chase’s principal UK headquarters, consolidating several major business lines into a single, future-forward complex. This location also represents the firm’s largest physical footprint in the EMEA region.
Employees and visiting clients will benefit from unobstructed views across the River Thames, stretching from Canary Wharf’s waterfront to central London. The building is being designed by the renowned British architectural firm Foster + Partners—the same team that designed JPMorgan Chase’s celebrated global headquarters at 270 Park Avenue in New York City, which recently became one of Manhattan’s most advanced sustainable office towers.
Construction of the London tower is expected to take six years and will begin once all national and local approvals are secured. The project is being co-developed by Canary Wharf Group, a long-time strategic partner in the region’s development, with Sir George Iacobescu serving as an independent advisor to the bank. Iacobescu has played a pivotal role in shaping Canary Wharf over the past three decades and brings unparalleled expertise in major infrastructure projects.
A Strategic Investment in London’s Future Economy
The announcement has been widely recognized as a major endorsement of London’s resilience and continued relevance in global finance, particularly at a time when the UK is focused on driving economic growth, enhancing competitiveness, and attracting long-term investment.
Jamie Dimon, Chairman & CEO of JPMorgan Chase, underscored the strategic significance of this development, emphasizing London’s unique, centuries-old role as a global commercial gateway. “London has been a trading and financial hub for more than a thousand years, and maintaining it as a vibrant place for finance and business is critical to the health of the UK economy,” Dimon said. “This building will represent our lasting commitment to the city, the UK, our clients and our people. The UK government’s priority of economic growth has been a critical factor in helping us make this decision.”
An independent economic impact study commissioned by the bank highlights the scale of the investment’s potential influence on the UK economy. It estimates that the combined project—including the construction of the new tower and interim upgrades to the firm’s existing office at 25 Bank Street—could contribute approximately £9.9 billion (US$13 billion) to the national economy over the next six years. Beyond the headline figure, the project is expected to create over 7,800 jobs across construction, engineering, building services, and other local industries.
In addition to this long-term investment, JPMorgan Chase currently contributes nearly £7.5 billion (US$9.8 billion) annually to London’s local economy through the work of its 13,000 employees and its extensive operations across banking, markets, technology, and consumer financial services. These activities support an estimated 38,000 jobs across the broader financial ecosystem—further illustrating the firm’s critical role in London’s economic fabric.
UK and Local Leaders Praise the Investment
The milestone announcement has drawn broad support from government leaders, industry figures, and community stakeholders.
Rachel Reeves, the UK Chancellor of the Exchequer, described the project as a “multi-billion-pound vote of confidence in the UK economy.” She emphasized that her latest Budget places sustained economic growth at the forefront of the government’s agenda by fostering a stable environment for business investment. “I am thrilled that JPMorgan Chase has chosen London for its landmark new building,” she said, noting that the development aligns well with national growth priorities.
London Mayor Sadiq Khan hailed the decision as a strong affirmation of the capital’s enduring appeal as a global center for finance, technology, and diverse talent. “JPMorgan Chase’s landmark investment in a new building here in London is a huge vote of confidence in the capital’s future,” Khan stated. “This major commitment will create jobs and further strengthen London’s position at the centre of the global economy.”
At the borough level, Lutfur Rahman, Executive Mayor of Tower Hamlets, welcomed the project as a major boost to local economic development. He highlighted Canary Wharf’s ongoing role as a catalyst for jobs and investment. “This announcement from JPMorgan Chase is fantastic and welcome news for the long-term prosperity of our Borough,” Rahman said. He also noted the significance of the community spaces planned as part of the development, which will include a new world-class park on the riverfront.
World-Class Workplace Design That Prioritizes Employee Well-Being
The tower represents not only a financial investment but also a substantial reinvestment in the firm’s workforce. With employee experience becoming a defining factor in modern corporate real estate, JPMorgan Chase is prioritizing an environment that supports collaboration, innovation, and holistic well-being.
The building will include:
- Expansive public parkland and redesigned waterfront space, created in partnership with Canary Wharf Group.
- New access routes and improved connections to enhance integration with the broader Canary Wharf area.
- Advanced trading floors equipped with next-generation technology and infrastructure.
- Dedicated spaces for collaboration and innovation, reflecting the evolving hybrid workplace.
- Well-being amenities such as terraces, rooftop areas, wellness spaces, nursing rooms, and multiple dining options.
- Extensive bicycle parking and sustainable mobility solutions, in alignment with London’s green transport goals.
These features aim to create a future-forward workplace environment that allows employees to thrive professionally while maintaining balance and well-being.
Conor Hillery, Co-CEO of JPMorgan Chase in EMEA, emphasized the project as a testament to London’s enduring global competitiveness. “There should be no doubt about the enduring appeal of London as a world-class financial centre,” he said. “This is something for our employees to look forward to, and we can’t wait to get the construction underway.”
His fellow Co-CEO, Matthieu Wiltz, echoed the sentiment, noting that many finance professionals across Europe have built significant portions of their careers in London. “We are aiming to build a legacy that will benefit the city and its communities for generations to come,” Wiltz said.
Shobi Khan, CEO of Canary Wharf Group, described the development as a “continued momentum behind Canary Wharf’s evolution.” He highlighted the tower’s scale, which is set to become the largest office building in London, reinforcing the district’s position as a premier global business location.
Operational Consolidation and Future Plans for Existing London Sites
Currently, JPMorgan Chase operates out of three primary locations in London:
- 25 Bank Street, Canary Wharf – commercial and investment banking operations
- 60 Victoria Embankment, City of London – asset and wealth management units
- One Cabot Square, Canary Wharf – leased space for its rapidly growing International Consumer Bank, including Chase UK
Chase UK, the firm’s digital consumer bank launched in 2021, now has over 2.6 million customers and represents one of the fastest-growing retail banking franchises in the country.
Once the new Riverside tower is complete, JPMorgan Chase plans to consolidate London-based employees into the new main building and the 60 Victoria Embankment site. The firm will evaluate long-term options for 25 Bank Street at that time.
This announcement also follows JPMorgan Chase’s recent decision to invest up to £350 million in its Bournemouth campus, signaling a broader strategic commitment to its UK workforce and operational infrastructure.
Expansion of the Security & Resiliency Initiative to the UK
Complementing the real estate investment, JPMorgan Chase will also bring its new Security & Resiliency Initiative (SRI) to the UK. First launched in the United States in October, the SRI represents a $1.5 trillion, decade-long commitment to financing, facilitating, and investing in industries critical to national and global stability.
These include:
- Defense and aerospace
- Energy independence
- Supply chains for critical minerals
- Advanced manufacturing
The UK rollout will mirror the structure of the US initiative, with a combination of direct equity investments, venture capital deployment, and financing solutions aimed at strengthening industrial and technological resilience. Additional details are expected in the coming months.
Strengthening Community Impact Through Skills, Training, and Financial Health
JPMorgan Chase has consistently prioritized community partnerships and inclusive economic development in the regions where it operates. In 2024, the firm expanded its social impact commitment in the UK with a new £40 million, five-year investment aimed at empowering underserved communities and improving youth access to economic opportunity. This brings the bank’s total UK community investment since 2019 to £90 million.
During the first year of this expanded commitment, more than £10 million was deployed to support organizations such as:
- The Careers & Enterprise Company
- Young Enterprise
- Nest Insights
- Other nonprofit partners focused on financial health and workforce development
Beyond these initiatives, the bank has also provided an additional £5.2 million to support small businesses across the UK.
JPMorgan Chase has long-standing ties to Tower Hamlets, one of London’s most diverse communities and home to Canary Wharf. Over the last two years, 370 of the bank’s employees have volunteered to help more than 1,600 secondary school students build workplace skills through the firm’s partnership with The Switch, a local nonprofit focused on employability.
These efforts highlight the bank’s long-term philosophy: major corporate investment must be accompanied by direct, meaningful community engagement.
A Shared Vision for London’s Future
As JPMorgan Chase prepares to embark on one of the largest corporate developments in London’s history, the firm emphasizes its intention to work collaboratively with the UK government, London authorities, local stakeholders, and community organizations. The Riverside project is envisioned not only as an office tower but as a catalyst for growth, innovation, and community revitalization.
By combining forward-thinking architecture, sustainable design, workforce-centered planning, and deep community partnerships, JPMorgan Chase aims to reinforce London’s standing as a global financial hub while contributing to long-term prosperity across the UK.
The firm’s leaders describe the project as a “lasting commitment”—one that extends far beyond brick and steel to include London’s future workforce, local neighborhoods, and the broader economy.
About JPMorganChase in the UK
With a legacy dating back more than 200 years in the UK, JPMorganChase has a track record of demonstrating leadership during times of both economic growth and financial instability. The firm provides £600 billion in credit and capital to nearly 4,500 medium and large companies and supports over two and a half million retail customers. In the UK’s Innovation Economy sector, made up of early stage high growth venture capital backed companies, JPMorganChase is aiming to lend more than $2 billion by 2030.
At the same time, together with its non-profit partners the firm has supported over 33,300 low income households reduce their debt and improve their financial health, helped nearly 20,000 small businesses to grow their activity and placed over 9,800 individuals into apprenticeships or full and part-time employment.
JPMorganChase has 23,000 employees in the UK, including: 13,000 in London, 5,300 in Bournemouth and 4,000 in Glasgow and Edinburgh.
About JPMorganChase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.6 trillion in assets and $360 billion in stockholders’ equity as of September 30, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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