JPMorganChase has unveiled plans for a three-million square foot office tower in Canary Wharf that will serve as its new UK headquarters, marking one of London’s most ambitious commercial developments in recent years.
The multi-billion-pound project, designed by British architectural firm Foster + Partners, will anchor the Riverside development and accommodate up to 12,000 employees once completed.
The proposed skyscraper — expected to become the largest office building in London — will take approximately six years to construct, pending final approvals and market conditions.
Foster + Partners, renowned for projects such as Apple Park in California and the new JPMorganChase global headquarters at 270 Park Avenue in New York, aims to deliver a design that prioritises sustainability and employee wellbeing.
Early plans highlight shared collaboration spaces, trading floors, terraces, wellness areas, nursing rooms, dining facilities, and expanded bicycle parking.
The site will also feature landscaped parkland and enhanced public access along the riverside, contributing to the continuing transformation of Canary Wharf into a mixed-use urban district.
Canary Wharf Group (CWG) will act as co-developer, with former CWG executive chairman Sir George Iacobescu providing independent guidance.
CWG chief executive Shobi Khan said: “We are delighted that JPMorganChase has once again chosen Canary Wharf as their primary UK location.
“The scale and ambition of this scheme – set to become the largest office building in London – demonstrates the continued momentum behind Canary Wharf’s evolution and JPMorganChase’s commitment to outstanding workplaces.”
While the new headquarters is under construction, JPMorganChase plans interim upgrades to its current offices at 25 Bank Street, also located in Canary Wharf.
The bank presently operates from two owned properties in the district while leasing additional space at One Cabot Square for its International Consumer Bank.
An independent economic impact study commissioned by JPMorganChase estimates the project could add around £9.9 billion (US$13 billion) to the UK economy over six years and generate approximately 7,800 jobs in construction and related sectors.
Beyond the building phase, the report noted that the bank’s current London-based operations already contribute nearly £7.5 billion annually and support approximately 38,000 jobs across the city.
JPMorganChase chairman and CEO Jamie Dimon said: “London has been a trading and financial hub for more than a thousand years, and maintaining it as a vibrant place for finance and business is critical to the health of the UK economy.
“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.”
UK Chancellor of the Exchequer Rachel Reeves welcomed the announcement, framing it as a signal of investor confidence.
“My Budget doubles down on growth as our number one priority by creating the conditions for businesses to invest and succeed.
“I am thrilled that JPMorganChase has chosen London for its landmark new building — a multi-billion-pound vote of confidence in the UK economy and this government’s plans for growth, which are built on the rock of stability,” she said.
The new headquarters is part of a broader rebirth for Canary Wharf, which has been transitioning from a finance-focused district into a diversified hub of offices, homes, life sciences, and public spaces.
