- Including construction costs, the project could inject £9.9 billion ($13 billion) into the UK economy over six years and generate roughly 7,800 jobs in construction and related sectors.
- The new tower will accommodate up to 12,000 staff, becoming JPMorgan Chase’s primary UK headquarters and its most substantial foothold across EMEA (Europe, the Middle East and Africa). The bank currently employs 23,000 people in the United Kingdom.
- JPMorgan Chase already contributes nearly £7.5 billion ($9.8 billion) annually to the local economy, supporting 38,000 jobs throughout the surrounding ecosystem.
- At more than three‑million square feet of gross internal area, the building will rank among the largest and most technologically advanced office complexes in Europe, reinforcing London’s status as a global financial hub.
- Completion hinges on a stable UK business environment and the receipt of all required national and local approvals.
- Beyond the physical campus, JPMorgan Chase will launch its Security and Resiliency Initiative in the UK, channeling dedicated financing into defence and aerospace, energy independence, critical‑mineral supply chains and advanced manufacturing.
LONDON—JPMorgan Chase has unveiled plans for a new three‑million‑square‑foot tower on the Riverside development at Canary Wharf. The project is designed to house up to 12,000 employees and will serve as the bank’s flagship headquarters for the United Kingdom and its most significant EMEA presence. The development is contingent on a continued positive business climate in the UK and the acquisition of all necessary regulatory clearances.
Artist’s impression: The view from JPMorgan Chase’s Riverside office
The tower, slated for the Riverside precinct of Canary Wharf, will provide uninterrupted views of the River Thames and central London. Designed by Foster + Partners—who also crafted the firm’s iconic 270 Park Avenue headquarters in New York—the building is expected to break ground once permitting is complete. Canary Wharf Group will co‑develop the project, with independent advisory from Sir George Iacobescu.
Jamie Dimon, Chairman and CEO of JPMorgan Chase, said: “London has been a trading and financial hub for more than a thousand years. Preserving its vibrancy is essential to the health of the UK economy. This tower underscores our long‑term commitment to the city, our clients and our people. The UK government’s focus on economic growth was a key factor in our decision.”
While construction proceeds, the bank will upgrade the interior of its existing 25 Bank Street flagship. An independent study commissioned with a leading consulting firm estimates that the combined effort could contribute roughly £9.9 billion ($13 billion) to the UK economy over six years, creating over 7,800 jobs in construction and ancillary industries. The analysis also notes that JPMorgan Chase’s 13,000‑employee London operation currently adds about £7.5 billion ($9.8 billion) annually to the local economy, supporting 38,000 jobs throughout the broader ecosystem.
UK Chancellor of the Exchequer Rachel Reeves commented: “My Budget puts growth at the forefront of our agenda, creating conditions for businesses to invest and thrive. JPMorgan Chase’s decision to build a landmark tower in London is a multi‑billion‑pound vote of confidence in the UK economy and the government’s growth strategy.”
Mayor of London Sir Sadiq Khan added: “JPMorgan Chase’s investment is a powerful endorsement of London’s future as a global powerhouse for finance, innovation and talent. This project will create jobs, spur economic activity and further cement the city’s central role in the world economy.”
Lutfur Rahman, Executive Mayor of Tower Hamlets, said: “Canary Wharf continues to attract world‑class investment that benefits local residents and businesses. JPMorgan Chase’s commitment will enhance the borough’s prosperity and deliver a new riverside park for Londoners and visitors alike.”
Modern community space and employee‑focused amenities
In partnership with Canary Wharf Group, the development will include new public parkland, a revitalized dock area and improved pedestrian access to the Riverside precinct. Inside, the tower will feature advanced collaboration zones, state‑of‑the‑art trading floors, wellness spaces, rooftop terraces, dining venues, dedicated nursing rooms and extensive bicycle facilities.
Conor Hillery, Co‑CEO of JPMorgan Chase for EMEA, remarked: “London’s appeal as a world‑class financial centre remains unshaken, and this investment demonstrates that confidence. Our employees will benefit from a cutting‑edge workplace that reflects the future of work.”
Matthieu Wiltz, Co‑CEO of JPMorgan Chase for EMEA, added: “Many of our European finance leaders built their careers in London. We aim to create a lasting legacy that will serve the city and its communities for generations.”
Shobi Khan, CEO of Canary Wharf Group, said: “We are delighted that JPMorgan Chase has chosen Canary Wharf as its primary UK location. The scale and ambition of this scheme—set to become the largest office building in London—highlight the momentum behind the area’s evolution and the bank’s commitment to world‑class workspaces.”
Strategic implications for London’s office market
The tower arrives at a pivotal moment for commercial real estate in the UK. After a pandemic‑induced slump, demand for premium office space has been rebounding, driven by firms seeking hybrid‑ready environments equipped with resilient digital infrastructure. JPMorgan Chase’s decision signals confidence in the long‑term viability of dense urban office clusters, counterbalancing the trend toward satellite campuses.
Technologically, the building is planned to incorporate next‑generation data connectivity, including dedicated 5G small‑cell deployments and edge‑computing nodes to support low‑latency trading applications. Sustainable design will aim for net‑zero operational emissions, leveraging high‑efficiency HVAC systems, renewable energy procurement and intelligent building‑management platforms that monitor energy use in real time.
Security & Resiliency Initiative expansion
In the coming months, JPMorgan Chase will roll out its Security & Resiliency Initiative (SRI) in the UK. Originally launched in the United States, the ten‑year, $1.5 trillion program targets strategic sectors such as defence, aerospace, energy independence and critical‑mineral supply chains. The UK rollout will involve direct equity and venture‑capital investments, positioning the bank as a catalyst for high‑impact, technology‑driven projects.
Skills development and community investment
JPMorgan Chase has pledged £40 million over five years to expand economic opportunities for young people and underserved communities in the UK, bringing its total commitment since 2019 to £90 million. In its first year, the firm allocated more than £10 million to non‑profits focused on financial health and skills development, and an additional £5.2 million to support small businesses across the country.
Within Tower Hamlets, 370 JPMorgan Chase employees have mentored over 1,600 secondary‑school students through the nonprofit The Switch, building employability skills and exposing youth to careers in finance and technology.
The bank emphasizes collaboration with local authorities and community groups to ensure the Riverside project aligns with a shared vision for London’s future.
JPMorgan Chase in the United Kingdom
With a legacy spanning more than two centuries, JPMorgan Chase operates two primary owned campuses in London—25 Bank Street in Canary Wharf (Commercial & Investment Banking) and 60 Victoria Embankment in the City (Asset & Wealth Management)—as well as leased space at One Cabot Square for its International Consumer Bank, which now serves over 2.6 million UK customers. Once the Riverside tower is complete, London‑based staff will consolidate in the new headquarters and the Victoria Embankment site, while the future use of 25 Bank Street will be reassessed.
The announcement follows a recent £350 million investment in the bank’s Bournemouth campus, underscoring a broader strategy to modernize its UK footprint.
Security & Resiliency Initiative – UK focus
The UK extension of SRI will mirror the US model, directing capital toward sectors critical to national security and economic sovereignty. By targeting defence, aerospace, renewable energy, critical minerals and advanced manufacturing, JPMorgan Chase aims to position itself as a strategic partner for the UK’s industrial policy objectives.
Community and workforce development
Since 2019, JPMorgan Chase has supported over 33,300 low‑income households in debt reduction and financial health, assisted nearly 20,000 small businesses in scaling operations, and placed more than 9,800 individuals into apprenticeships or employment. The firm employs 23,000 people across the UK, including 13,000 in London, 5,300 in Bournemouth, and 4,000 in Scotland (Glasgow and Edinburgh).
About JPMorgan Chase in the UK
JPMorgan Chase provides £600 billion in credit and capital to approximately 4,500 medium‑ and large‑size companies and serves over 2.5 million retail customers. In the UK’s Innovation Economy, the bank targets more than $2 billion in lending to early‑stage, high‑growth venture‑backed firms by 2030.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm headquartered in the United States. As of September 30 2025, the firm held $4.6 trillion in assets and $360 billion in stockholders’ equity. Its operations span investment banking, consumer and small‑business financial services, commercial banking, transaction processing and asset management, serving millions of customers in the United States and a broad portfolio of corporate, institutional and government clients worldwide.
Source: JPMorgan Chase & Co.
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