JPMorgan Plans New Three-Million-Square-Foot Tower in London

JPMorgan Chase has unveiled plans to build a new three-million-square-foot tower in London’s Canary Wharf, a project that would become the bank’s principal UK headquarters and its largest site in EMEA.

The proposed development, located on the Riverside site, is designed to accommodate up to 12,000 employees. The bank said the project remains subject to a supportive UK business environment and required national and local approvals.

Foster + Partners, the architect behind JPMorgan’s 270 Park Avenue headquarters in New York, has been appointed to design the building. Construction is expected to take six years and will begin once approvals are secured. Canary Wharf Group will act as co-developer, with independent advice provided by Sir George Iacobescu.

The plans include public parkland, redevelopment of the nearby dock, and improved access to the Riverside area. The building will feature collaboration areas, modern trading floors and employee-focused amenities such as wellness spaces, rooftop terraces, nursing rooms, cafés and extensive bicycle facilities.

CEO Jamie Dimon said London’s long-standing role as a global financial centre was central to the firm’s decision: “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.”

During the construction period, JPMorgan will upgrade the interior of its existing Canary Wharf site at 25 Bank Street. The bank currently operates from 25 Bank Street for its Commercial & Investment Bank and from 60 Victoria Embankment for Asset & Wealth Management, while also leasing space at One Cabot Square for its International Consumer Bank, including Chase UK, which now serves more than 2.6 million customers.

Upon completion of the Riverside tower, JPMorgan plans to consolidate staff into the new site and 60 Victoria Embankment, with future options for 25 Bank Street still under consideration.

The announcement follows a separate commitment of up to £350 million to invest in the firm’s Bournemouth campus.