Summary
JP Morgan Chase plans to build a large tower in Canary Wharf, London, costing £10 billion. The new building will create 7,800 jobs and become JP Morgan's biggest location in Europe, the Middle East, and Africa. Construction will take six years but must first receive necessary approvals.
Key Facts
- JP Morgan Chase will build a £10 billion tower in Canary Wharf, London.
- The new building will be three million square feet in size.
- It will provide space for approximately 12,000 JP Morgan employees.
- The construction is expected to take six years to complete.
- The project could add £9.9 billion to the UK economy.
- The site for the new building, Riverside South, was purchased by JP Morgan in 2008.
- Approval is needed before construction begins.
- The UK government's focus on economic growth influenced JP Morgan's decision.
