JPMorgan to build new London headquarters in Canary Wharf
3 minute readPublished: Thursday, November 27, 2025 at 7:55 pm
JPMorgan to Build Massive New London Headquarters
JPMorgan Chase & Co. has announced plans to construct a new headquarters in London, a project that will be the city's largest office building by far. The investment bank stated that the building, co-developed by Canary Wharf Group, will span three million square feet and could accommodate up to 12,000 employees. Construction is expected to take six years.
The project, designed by Foster + Partners, the same firm behind JPMorgan's new global headquarters in New York, represents a significant commitment to the UK. JPMorgan CEO Jamie Dimon cited the UK government's focus on economic growth as a key factor in the decision. The plans are contingent on a positive business environment and necessary approvals.
The proposed headquarters will be approximately one-third larger than London's current largest office building, 22 Bishopsgate. JPMorgan estimates the development will contribute $13 billion to the local economy, including the creation of 7,800 additional jobs across various industries.
This announcement comes as a boost to the UK economy, particularly following recent tax increases. The decision highlights the limited options for businesses seeking large office spaces in London, given cautious development following economic challenges. Dimon has been a proponent of returning to the office, which has contributed to the revival of the Canary Wharf financial district. JPMorgan has even leased additional space to accommodate its staff's return.
The Riverside South site, acquired by JPMorgan in 2008, was previously considered for residential development before the bank decided to retain ownership. The project underscores London's continued appeal to investment banks, despite Brexit and other economic uncertainties. JPMorgan currently operates in London from two owned locations and leases additional space. The bank plans to retain its Victoria Embankment site after the new headquarters is completed and will assess options for its 25 Bank Street location. JPMorgan also recently announced a $350 million investment in its Bournemouth campus.
BNN's Perspective:
This announcement is a positive sign for the UK economy, demonstrating confidence in London's financial sector. While the project's scale is impressive, it's crucial to monitor the long-term impact on the local economy and the evolving dynamics of the office environment. The commitment to a physical presence, as opposed to remote work, is a notable trend.
Keywords: JPMorgan, London, headquarters, Canary Wharf, office building, investment, economy, jobs, Jamie Dimon, Foster + Partners, UK, construction, Brexit, finance, development, Riverside South, 22 Bishopsgate.