JP Morgan move into Canary Wharf offices.
London office space taken up by investment company JP Morgan.
Investment company JP Morgan has moved its European headquarters to the British capital.
JP Morgan have leased space in 25 Bank Street, Canary Wharf. The company are planning to move into the property officially in 2012.
The office was previously occupied by the bank Lehman Brothers and spans 1 million square feet of office space.
“This decision secures London as the European headquarters for J.P. Morgan and it is a huge boost for the UK as the economic recovery starts,” commented George Lacobescu, chief executive of the Canary Wharf Group.
Previously JP Morgan had been considering 3 different office space solutions. These were staying in their current offices and spreading their 17,000 strong workforce over eight offices, developing new office space in Canary Wharf or moving into the former Lehman office space.
“The move into 25 Bank Street and the continuation of investment in the Riverside South project will deliver considerable economic benefits including new jobs and local business contracts for our neighbourhood here in Tower Hamlets, for London and for the whole UK,” commented George Lacobescu.
Despite moving into 25 Bank Street, JP Morgan have stated that they will continue to work with the Canary Wharf Group to develop the Riverside South office project for future occupation.
The Riverside south project is being carried out on one of the last remaining river-front areas in the Canary Wharf area. The project will develop high rise buildings that aim to blend into the London skyline whilst still providing high quality office space and designs.